Gulf Navigation seals refinancing deal for 5 petrochemical tankers
Gulf Navigation Holding PJSC, the Dubai Financial Market listed maritime and shipping company, announced successfully completing the transaction of refinancing 5 petrochemical tankers, under new and preferential terms, according to the company's release. The tankers were refinanced by Jiangsu Financial Leasing Co. under an agreement that extends to 5 years.
Founded in 1985, Jiangsu Financial Leasing Co., is a financial institution engaged in financial leasing business approved by the China Banking and Insurance Regulatory Commission. It is one of the most well-known financial leasing companies in China. The company was listed on the Shanghai Stock Exchange in 2018. It is the first financial leasing company listed in A-share market in China with the registered capital of RMB 2.987 billion.
According to the agreement, 5 petrochemical tankers are refinanced, with each tanker having a tonnage capacity of 46,000 DWT, and it is capable of transporting different types of liquids, including petrochemicals, oils, and oil derivatives, using zinc and epoxy coated tanks.
Gulf Navigation Holding PJSC is a fully integrated and synergized organization with a multifunctional business. It is the only maritime and shipping company listed in the Dubai Financial Market since February 2007 under the symbol “GULFNAV”. The company is headquartered in Dubai, with branch offices inside the port of Fujairah, Khorfakkan, Abu Dhabi and an overseas office in the Kingdom of Saudi Arabia. The company has a fleet of chemical tankers, livestock transport vessels, operation support vessels, marine services, and ship repair operations.
