Carlyle, Seaspan, Tiger jv to spend $5bn on vessels

The Carlyle Group and Tiger Group Investments Partner with Seaspan Corporation, the Washington Family, Gerry Wang and Graham Porter have formed a joint venture to acquire more than $5bn in container, dry bulk, tanker vessels and other shipping assets. The move was made to capitalise on increasing demand in the shipping sector, a statement from investment firm Carlyle said Monday. The new joint venture will commence business immediately and expects to deploy up to $900m in equity capital during the next five years. It will primarily focus on bringing together Chinese shipbuilders, lenders and state-owned companies to support China's desire to increase the amount of cargo it controls. “There is increasing desire among Chinese state-owned entities to control the ships that transport their goods around the world,” said Wang, who will remain as ceo of Seaspan through 1 January 2013. Wang added that Seaspan has signed a letter of intent with a Chinese shipyard to build a “significant” order of 10,000 teus new panamax vessels.
(Source:http://en.portnews.ru)