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31 Mar 2023

Stephenson Harwood (Singapore) Alliance advises ICBC, BOC and CPF on three LNG vessel financings

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Stephenson Harwood (Singapore) Alliance has advised Industrial and Commercial Bank of China (ICBC), Bank of Communications (BOC) and CPF Dubai (CPF) on the finance documentation for the construction of three Liquid Natural Gas (LNG) vessels, worth approximately US$560 million.

These vessels will be constructed by Shanghai-based Hudong-Zhonghua Shipbuilding (Group) Co., Ltd (Hudong) for United Auspicious LNG, United Peace LNG and United Success LNG – each of which is a wholly-owned subsidiary of Unified Liquified Gas Shipping, an indirect non-wholly-owned subsidiary of COSCO Shipping Energy Transportation Co. Ltd. (CSET).

CSET, along with its subsidiaries, is a leading, large-scale LNG shipping company in China, and is a key participant in the world's LNG shipping market.

The Stephenson Harwood (Singapore) Alliance team was led by Singapore-based partner Dr Gregory Xu, who was supported by associate Romie Yeo, and legal executive Dan Tan. Further advice was provided by Hong Kong-based partner Hongkai Zhou and associate Koko Leung.

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Dr Gregory Xu

Dr Gregory Xu
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