CMB Has Closed The Deal With Viking Cr...

CMB has closed the deal with Viking Cruise Ltd. on two 930 Passenger Cruise Ship finance lease. The two newbuildings, Viking Sun and Viking Spirit, are contracted to Italian’s Fincantieri, which will hit the water in September 2017 and June 2018 respectively. The transaction would lift Viking’s ocean vessel fleet to five ships,following Viking Star, Viking Sea and Viking Sky.

Viking Cruise LTD. is the market leader in the river cruise segment of cruise industry, headquartered in Los Angeles. So far the company has established a fleet of 67 River Vessels and 4 Ocean Vessels, which primarily focused on the North American outbound market accounting for a majority of their sales. While in recent years, the company tends to gain market share in Eurasia.

The guiding principle of Viking Cruise is to design for function, comfort and understated elegance, building small ships, but at great value. The research shows that the company holds more than half of the North American sourced passengers in the river cruise market at the end of 2016.

The lessor, CMB Financial Leasing Co., LTD., is one of the first five bank-affiliated financial leasing firms approved by the State Council, owning a fleet of 130 vessels, mainly consisting of containerships, LNG carriers and tankers. The company has established a comprehensive financial system to manage the asset portfolio as the total assets surges, spreading the potential risks and investing for opportunities in new fields in the existing market.

2016 has by no means been the best year for shipping since the global economy is recovering slowly from recession. Nevertheless, the rapid growth in cruise sector has an invigorating effect in the shipping market. According to CLIA, the annual passenger number increases by huge amounts each year. And the ever-growing middle classin Asia-Pacific region is going to fuel new demands for cruise liners.

CMBFL is not stunted by the traditional business model and the remarkable accomplishments these years. A more sophisticated and sustainable industrial chain urges thecompany to develop leaner, more innovative project finance plans for those robust enterprises and market players with latent capacity.