shipping finance development of leading chinese leasing...
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Shipping Finance Development of Leading
Chinese Leasing Companies
22 Feb 2019
By Bank of Communications Financial Leasing
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Role of Chinese Financial Leasing in Shipping
2
Agenda
Brief introduction of Leading Chinese Leasing Companies
Rapid Development of Chinese Shipping Leasing
Outlook of Chinese Leasing Companies
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History of Chinese Leasing Companies 1.1
3
Year 2007, the first 5 Financial Leasing
companies established in China, all with bank
background.
Year 2018, the figure for Financial Leasing
Company is 69.
8 financial leasing companies assets over 100 bn
RMB.
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Total assets
Leased assets
(RMBm)
(RMBm)
Sustainable growth with a progressive momentum
1.2
4
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
2,008 7,865 15,291 30,757
46,721 70,795
91,196 113,842
144,383
179,761 207,243
231,743 2007-2018 CAGR: 54%
126 7,781 15,285 30,042
44,927 69,408
89,144 110,501
139,591 166,061
200,002 220,407
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
2007-2018 CAGR: 97.2%
Fast growing asset scale of Bocomm Leasing
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Bocomm Leasing is in the top rank by major indicators
Ranking top among the financial leasing industry in terms of main metrics1, 2
Total assets RMB231.7 bn No. 2 Leased assets RMB220.4 bn No. 2
Operating lease assets RMB104.5 bn No. 2 NPA ratio 0.66% No. 1
Wholly-owned subsidiary of Bank of Communications
Incorporated since December 2007
Among the first batch of five pilot financial leasing companies in China
Registered capital amounting to RMB8.5bn
1.3
5 Note: 1. source as of Dec 2018 2. The industry universe consists of eight Chinese financial leasing companies with total assets over RMB100bn as of Dec2018
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Preferable industries for financial leasing companies 1.4
6
Aviation
Shipping
Automobile
Infrastructure
Medical, Manufacture Equipment
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Industry: water supply, gas
supply, sewage treatment,
public transportation, culture
and tourism, etc.
Communicate and cooperate
with companies in water
supply, public transportation,
gas supply, heating supply, and
rail transit sectors in large
provincial capitals and major
tier one and tier two cities
Clients: sizeable professional
infrastructure enterprises such
as CRECG, CCCC, Shanghai
Metro, Nanjing Metro, Shaanxi
Water Group, Beijing
OriginWater Technology,
Taiyuan Heating Power Co.,
Shenzhen Bus Group, Tianjin
Binda Gas Enterprises
Company, etc.
Industry: coal, electricity, oil
and gas as four pillars,
supplemented by other new
energy industries
Raise entry threshold in
traditional energy industries
and strengthen support to new
energy industries and industrial
upgrading; Support domestic
and foreign projects that fit
national industrial policy and
economic transformation and
upgrading principle
Clients: CNCG, Datong Coal
Mine Group, China Guodian
Corporation, China Huadian
Corporation, CNOOC and
other large state-owned energy
companies
Promote business in high-end
equipment manufacturing and
cross-border leasing for large
equipment; Support holistic
strategies of Chinese
manufacturing industry to “Go
Global” and international
cooperation on production
capability
Industry: engineering
machineries, heavy trucks,
buses, agricultural machineries,
and large complete set
equipment
Industry leading in terms of
product diversification, sector
coverage, and number of
cooperative manufacturers
Clients: XCMG, FAW Jiefang,
Sinotruk, Shenyang Machine
Tool, Zoomlion, Sany, and
other leading companies in the
industry
Support growth of micro and
small enterprises, and develop a
variety of wholesale and retail
products regarding sublease,
direct lease, and joint lease,
providing efficient channels
and financing solutions to
micro and small enterprises in
the procurement of production
materials and carrying out
operating activities
$/€ USD/EUR business segment ¥ RMB business segment
1.5
Key focus for growth
With 189 aircrafts and 2
managed aircraft, BoComm
Leasing ranked Top 3 in
domestic industry
Set up platform in Ireland to
promote offshore business
The balance of operating lease
assets accounts for c.91%,
among the highest in domestic
industry
53 clients across 20 countries
and regions
Aviation
Key focus for growth
380+ vessels under
management, including
container liners, chemical
tankers, oil tankers, LNG
carriers, bulk carriers, cruise
ships,Ropax etc.
Rank #2 in shipping leasing
business of container liners
globally. Client base covers top
five global container shipping
companies
Set up offshore business
platform in Germany to focus
on exploration of international
markets
Clients are mostly large SOEs
and top global shipping
companies with long operating
history
Shipping Energy equipment Public infrastructure Machinery equipment
7
Five key business segments of Bocomm Leasing
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Role of Chinese Financial Leasing in Shipping
8
Agenda
Brief introduction of Leading Chinese Leasing Companies
Rapid Development of Chinese Shipping Leasing
Outlook of Chinese Leasing Companies
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250 138 103
252 237 154
209 209 209
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180 208 243
88 141 204
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2.1
9
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
ICBC LEASING BOCOMM
LEASING
CMB LEASING MINSHENG
LEASING
CDB LEASING AVIC LEASING CCB LEASING CSSC LEASING COSCO
LEASING
HUARONG
LEASING
3.2
2.0
1.5 1.2 1.2
1.1 1.0
0.8
0.6 0.6
2.2
3.0
1.7 1.2
0.7 0.7
0.4
1.0
0.2 0.2
2.7 2.9
1.5
1.8
0.8
0.3
0.6
1.0
0.0 0.0
2018
2017
2016
Ship Leasing Drawdown from 2016 to 2018 of Chinese Leading Finance Leasing Companies
$Bn
Data source:SMARINE
Rapid development of shipping finance leasing
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Dominate position of the leading companies 2.2
10
0
2
4
6
8
10
12
14
ICBC
LEASING
BOCOMM
LEASING
MINSHENG
LEASING
CMB
LEASING
COSCO
LEASING
CSSC
LEASING
CDB
LEASING
AVIC
LEASING
CCB
LEASING
OTHERS
12
9.2
6 5.3 5.2
3.2 3.2
2.1 1.7
3.4
10.8
7.7
6.1
4.6 5.5
4.6
2.3 1.7
1.2
2.6
2018 2017
Ship Leasing Assets Value of Chinese Leading Finance Leasing Companies
$Bn
Data source:SMARINE
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2.3 Qualified shipping assets
Portfolio by vessel type Portfolio by geography
Portfolio by structure
Operating
lease, 69%
Finance lease, 31%
Containership
Tanker
Bulker
Gas Carrier
Other
RoRo & Passenger
Source: As per 31 December 2018
RoW, 95% China, 5%
46%
27%
14%
8%
2% 3%
11 Bocomm Leasing Fleet
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Role of Chinese Financial Leasing in Shipping
12
Agenda
Brief introduction of Leading Chinese Leasing Companies
Rapid Development of Chinese Shipping Leasing
Outlook of Chinese Leasing Companies
0 55 122
250 138 103
252 237 154
209 209 209
160 160 160
180 208 243
88 141 204
216 54 58
13
239 239 239
12 89 147
39 189 215
56 65 71
24 60 96
192 0 0
56 118 165
72 180 208
113 205 226
77 198 219
Diversify channel for access to clients 3.1
13
Cooperative
Banks Brokers
Classification Society
Shipyards
Top Tier
Shipowners
Chinese Financial Leasing Companies
Small Size
Shipowners
Medium Size
Shipowners
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3.2
380+ Number of
vessels
40+ Number of
clients
Global clients network
14
Bocomm Leasing Shipping Clients Group
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3.3 Efficient and professional team of Bocomm leasing shipping Dept.
2012 2016 2013-14 2018 2017
A professional and committed team…
Client Relationship Legal Operation
s
Technical Research
12x 2x 4x 2x 1x
…with a demonstrated execution track record
Source: As per 31 December 2018
380+ Number of
vessels
63 billion Portfolio value
RMB
BoCom Financial Leasing Ship
Leasing department was
established with a team of 11
professionals.
First Chinese Lease Co to execute
operating lease financing of
container vessels.
Signed 20 newbuilding
agreements with MSC and CMA
CGM, with a combined value of
USD 2 billion.
Established Hamburg office and became the first Chinese
LeaseCo to establish overseas footprint.
First Chinese Lease Co to establish a co-operation with
Maersk Line.
Signed four Ro-Pax newbuilding contracts with the
leading Ro-Pax company Stena Line.
Expanding the European office
through hire of foreign ship
finance professionals
11 16 17 22 23
Signed 32 tanker newbuilding contracts with the world’s
largest oil and petroleum products trader Trafigura. Total
value amounted to USD 1.35 billion.
Awarded «Best Institution for Shipping Finance in 2016»
by China Maritime Forum
15
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BoComm Shipping Leasing
(Europe) Gmbh
Hamburg
Dublin
BoComm Aviation Leasing
Ireland Company Limited
Hong Kong
BoComm Leasing Management Hong Kong Co., Ltd.
(Shipping assets holding company/offshore Treasury Center)
Shanghai
Group parent company
Specialized subsidiary in Free
Trade Zone
1 Shanghai Free Trade Zone Specialized Subsidiary
3 Offshore Marketing Platforms
1 Offshore Treasury Center
3.4
10
Global operating entities, close to the market
16
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Role of Chinese Financial Leasing in Shipping
17
Agenda
Brief introduction of Leading Chinese Leasing Companies
Rapid Development of Chinese Shipping Leasing
Outlook of Chinese Leasing Companies
0 55 122
250 138 103
252 237 154
209 209 209
160 160 160
180 208 243
88 141 204
216 54 58
18
239 239 239
12 89 147
39 189 215
56 65 71
24 60 96
192 0 0
56 118 165
72 180 208
113 205 226
77 198 219
Role of Chinese financial leasing in shipping 4
18
Keep the market healthy
• More than 50% is “Sales and Lease back”.
Leasing company is not ship owner
• Financed more than 1,600 vessels, only approximately 30 vessels ordered without Charters
Providing more finance options for the market
• Flexible solutions
• Efficient service
• Competitive terms
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