China Development Bank is reported to be considering offloading its ship leasing arm China Development Bank Financial Leasing (CDB Leasing).
The Hong Kong-listed company boasts a fleet of 222 ships as of the end of 2022 including 162 bulkers, 34 product tankers, 19 container ships, six LNG carriers and a single cruise ship.
TradeWinds recently reported that the company had agreed to acquire two more LNG carriers from parties related to Peter Livanos-backed GasLog for a combined total of $284m.
In addition to shipping CDB Leasing’s portfolio also includes a fleet of 272 modern jet airliners.
No specific timeline was given for the disposal, but sources say a sale early next year is likely, reported Airfinance Journal which first reported the story.
The reason given for the sale is said to be a “shift in policy bank direction after years of focusing on state-owned commercial enterprises”.
CDB Leasing would likely be sold to a Shenzhen-based financial entity or government development company, Airfinance Journal reported quoting unnamed sources.
Under the direct jurisdiction of the State Council of China, China Development Bank is China’s largest policy bank and one of the world’s largest institutions supporting domestic and foreign infrastructure projects.
China Development Bank is one of three Chinese policy banks alongside, the Agricultural Development Bank of China and the Export-Import Bank of China.
