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China's ship financing lease is usually sufficient to pay a maxi..

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The rising shipping market of ship financing is about to be said in China.

China's ship financing lease is usually sufficient to pay a maximum of 85% of the cost of the ship, with an average annual interest rate of 5.5%. The prepaid loans and interest rates of traditional bank loans are often lower. If the payment is missed, the Chinese banks have to recover the ships faster than the European banks.
George Lazaridis, based in Athens based Allied Shipbroking, says the Chinese own these ships, so the ship will unload the ship at the first port of call. This approach, he says, keeps operators on the alert because the reputation will be hit hard if they can't deliver.
Scorpio Tankers Inc., one of the largest oil tanker operators in the world, rented five ships from the Bank of communications in September. Robert Bugbee, the president of the company, said the interest rate of the Bank of China is very favorable.
Industry observers say that in shipping industry, the personal relationship between bankers and shipowners is still an important part of business development. Some shipping companies may move to Asia to establish this relationship with Chinese banks.
Martin Kroger, director general of German Shipowners'Association, held in November at a Shipping Conference held in Hamburg, said that shipowners and bankers are no longer separated now. They can meet for coffee and business. This is a radical shift in the mind, he said.