Alliance International Education Leasing (01563) issued an announcement. On August 21, 2023, the fund's wholly-owned subsidiary...
According to the Zhitong Finance App, Alliance International Education Leasing (01563) announced that on August 21, 2023, SPV1, a wholly-owned subsidiary of the fund, signed the first memorandum of agreement with Xiehai Explorers. SPV1 (as the buyer) agreed to buy, while Xiehai Explorers (as the seller) agreed to sell the first ship, subject to the terms and conditions contained therein; and entered into a bareboat lease I with XH Union Shipping (as the charterer). As of the date of this announcement, the acquisition of the first ship has been completed.
On February 27, 2024, SPv2, a wholly-owned subsidiary of the fund, entered into a replacement agreement with Xiehai Pilot and Fond Marine, including: SPV2 (as the new lessee) shall assume all the obligations and responsibilities of the Xiehai Pilot (as the original lessee) and enjoy all rights and claims under the original charter of the second ship; and with Xiehai Pilots (as the charterer) entered into a bareboat lease II for the second ship. SPV2 was granted a put option on the second day of the agreement lease term The ship was sold to the Association sea pilot; and preparation of relevant documents relating to the second ship.
The first ship acquired under the first memorandum of agreement was a ship with a gross tonnage of 88,600 tons and a net tonnage of 58,600 tons built by Global TSU Shipyard in 2003.
The second ship to be acquired under the replacement agreement is a bulk carrier with a gross tonnage of 88,900 tons and a net tonnage of 58,000 tons built by Shanghai Waigaoqiao Co., Ltd. in 2005.
The acquisition of the first ship and the second ship is in line with the Group's strategic plan, which is to expand it from the aviation, medical and infrastructure sectors to cover the shipping sector, and achieve the fund's investment goals. As COVID-19 restrictions ease, the global economy is expected to gradually recover, and it is foreseeable that global demand for crude oil, liquefied natural gas (LNG), various metals and chemicals will increase steadily in the future, leading to an increase in demand for shipping these raw materials. Therefore, the Group's expansion of its leasing business into the shipping sector will help the Group seize market opportunities, exert synergy, strengthen the Group's business network, and further explore business opportunities in the leasing business field. The Group also believes that the acquisition of these vessels will expand and strengthen the Group's revenue base. Furthermore, the conclusion of a replacement agreement and bareboat lease II is a leasing arrangement for the second ship. The company believes this is beneficial to the group because the group can obtain stable working capital while maintaining proper rights over the second ship, which will also have a positive impact on the group's cash flow.