Neptune Maritime Leasing, a growing ship finance platform controlled by US-listed shipping giant Costamare, is reaching out to grab a piece of the action in Asia.
The Harris Antoniou-led company announced on Wednesday that seasoned corporate banker Chih Keong Kwek, former chief risk officer at ABN Amro Singapore, joined his team as director of origination Asia.
Based in the city-state, Kwek will “help us expand our coverage of the ever-growing Asian market”, Antoniou said.
Neptune’s new addition has more than 30 years of experience in the region working in structured finance, loan underwriting and distribution, maritime finance and risk management.
His previous positions included those of head of shipping at Nordea Singapore and head of transportation at Fortis Singapore.
Kwek said that he has worked with Antoniou while at ABN Amro and Fortis and that he has been “following the development of Neptune Leasing ever since the company was founded three years ago”.
Ship financier Antoniou set up Neptune in 2021, with the backing of the Latsis family, to acquire and bareboat-charter out vessels through wholly-owned subsidiaries.
Konstantakopoulos family-controlled Costamare entered the firm in March 2023, pledging to invest up to $200m in the business in exchange for up to 40% of its ordinary shares, up to 79.1% of its preferred shares, plus a special share carrying 75% of the voting rights in the company.
As of 19 March, Costamare had invested $123.3m in Neptune and controlled 36.6% of its ordinary shares and 73.2% of the preferred ones.
The investment has helped Neptune expand considerably, particularly in bulkers.
The company’s investment portfolio currently comprises 16 bulkers, four tankers, three offshore supply vessels and one container ship.
