Schulte Group and ICBC sign an Intentional Co-Leasing Arrangements Agreement

Schulte Group and ICBC sign an Intentional Co-Leasing Arrangements Agreement

Max Asschenfeldt (BS-DE)

Corporate Counsel

On September 6, 2019, our Schulte Group CFO Mr. Tobias Pinker, attended a signing ceremony with the German Chancellor, Dr. Angela Merkel, and the Chinese Premier of the State Counsel, Mr. Li Keqiang, in the Great Hall of the People in Beijing.

During this occasion, Mr. Pinker signed an “Intentional Co-Leasing Arrangements” framework agreement, amounting to USD 500 million to further increase the already intense co-operation between the Schulte Group and ICBC Financial Leasing. On behalf of ICBC Financial Leasing, the agreement was signed by ICBC Chairman, Mr. Chen Siqing.

The signing took place in the course of a visit of Dr. Merkel with a German trade delegation comprising of the CEOs of selected German companies, among others BMW, Daimler, BASF, Deutsche Bank and Siemens.

ICBC Financial Leasing and the Schulte Group are already co-operating in several projects, such as with the financing of 2x 7,000TEU and 3x 9,400TEU container vessels, 2x SOV (service operation vessels) as well as ship management and newbuilding supervision services.