OREANDA-NEWS. January 06, 2016. Under the witness of ICBC Chairman Jiang Jianqing and Mayor of Hamburg Olaf Scholz, ICBC and F.Laeisz GmbH, a German shipping company, signed an exclusive financing entrustment agreement in Beijing, according to which ICBC will provide export buyer's credit of USD 65 million for F.Laeisz on its two high-spec Pure Car and Truck Carriers (PCTCs) that are being upgraded at the Dalian-based COSCO Shipyard.

This was a new credit line that ICBC provided for a famous German shipping company for building ships in China after it signed a ship financing agreement with Germany's Peter Dohle last month.

The shipping industry is highly cyclic, but some strong German shipping companies have already begun to deploy new assets before the prosperity cycle arrives, and many of them plan to build ships in China. By providing ship financing services for well-known shipping companies in Hamburg, ICBC has not only bolstered the development of local shipping industry, but also strongly supported Chinese shipbuilders in going global.

F.Laeisz is one of the most time-honored family shipping companies in Hamburg, boasting a history of 190 years and a broad business scope covering shipping, trade, insurance and real estate. As the largest port in Germany and a traditional international shipping hub, Hamburg has major geographical advantages in shipping finance.