Investec Asset Finance scores double first in Korean shipping deal

Sinokor is a medium sized regional shipping operator operating in East, South-East and Southern Asia, as well as China. The company operates a fleet of 95 vessels, including 39 containerships across Asia, with a total capacity of 52,092 TEU. It is an established customer of Blue Sky, the world’s 11th largest container lessor with a fleet of 310,000 TEU.

The transaction is a double first, as it represents not only the maiden deal in Investec’s container box finance strategy but also a new market entry as it is the first time that Investec has provided funding to a Korean business.

Keith Glasscoe, leading the deal from Investec Asset Finance (pictured above), said: “Investec is pleased to announce its first container box finance deal since the team’s launch late last year. I am particularly delighted that the deal has come as a result of our partnership with Blue Sky Intermodal, whose premier client list and international network make them one of the world’s leading lessor of shipping containers.”

Geoff Mornard, managing director of Blue Sky Intermodal, commented: “Investec’s detailed understanding of the asset type makes them a welcome addition to the container finance market. We look forward to continuing to work with Keith and the team in the future.”