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Overview

BoCom Leasing leases ship(s) to CMA CGM to Maersk

Commitment Year•2016Country of Activity•DenmarkDirect Recipient Country of Incorporation•DenmarkSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2016

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Commercial Banks

  • China Bank of Communications Financial Leasing Co., Ltd. (BoCom Leasing)

Receiving agencies

Private Sector

  • A.P. Møller – Mærsk A/S

Loan description

BoCom Leasing leases ship(s) to CMA CGM to Maersk

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2016, Bank of Communications Financial Leasing Co., Ltd. (BoCom Leasing) — a Chinese state-owned leasing company — entered into a leasing agreement with A.P. Møller – Mærsk A/S — a Danish shipping and logistics company — for an unspecified amount of ships.

Staff comments

1. A lease is a contractual arrangement calling for the lessee (user) to pay the lessor (owner) for use of an asset. The lessor is the legal owner of the asset, while the lessee obtains the right to use the asset in return for regular rental payments. Under a capital lease (a financial arrangement where the lessee/borrower uses an asset and pays regular installments plus interest to the lender/lessor), rental payments are usually classified as interest and obligation payments, similarly to a mortgage (with the interest calculated each rental period on the outstanding obligation balance). AidData codes capital leases as loans. 2. Maersk has a number of subsidiaries; as it is unclear which Maersk entity BoCom entered into a lease agreement with, AidData has coded the parent as the recipient.