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C&I Leasing seals deal to increase shipping fleet

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C&I Leasing Plc has sealed an agreement with the officials of Damen Shipyard and Export Credit Agency for the Netherlands, Atradius DSB. Chief Financial Officer, C&I Leasing Plc, Alex Mbakogu, who confirmed this in a statement, said the agency would guarantee a facility to fund the construction and purchase of two new tug boats and a pilot boat from DAME shipyard Netherlands.

The boats are to execute 10 and five-year contracts signed by C&I Leasing Plc with the Nigerian LNG.C & I Marine is a division of C&I Leasing Plc, which is a duly certified marine entity with licenses to operate in the maritime sub-section of the Nigerian oil and gas industry. It possesses 18 owned vessels, three chartered and five managed vessels in her fleet.

According to Mbakogu, the company has over 15 years experience in marine offshore & onshore projects, with a client list that includes Chevron, Shell, NPDC, NLNG, Agip and ExxonMobil.

The company had recently commissioned another vessel- MV Bello 2015 in Lagos.The Managing Director, C$I Leasing, Andrew Otike-Odibi, said: “This new addition to our fleet is a strong demonstration of the government’s commitment to developing local capacity especially in the oil and gas industry. “In 26 years, we have grown from a finance lease business to now a logistics support business in Nigeria and Ghana. This has seen us grow our fleet in the marine business to 21 vessels cutting across different oilfield service vessels such as crew boats, patrol boats, tug boats, pilot boats and platform support vessels.“We believe the future for our business is bright, even with the difficult operating terrain in the country,” he said.

Source: The Guardian

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