On June 13, a delivery ceremony was held in Nantong for the Pacific Wealth – a brand-new 63,500-DWT bulk carrier. With cutting-edge technology and commercial acumen, this vessel is not only a fresh force in the shipping industry, but also marks a significant milestone in JIC Leasing’s seven-year maritime leasing journey. Over these years, JIC Leasing has navigated the tides of the global shipping market with finance as its sail and expertise as its rudder, steadily forging ahead to write a remarkable chapter of professionalism and dedication in financial services to empower the real economy.

I.Breaking the Ice – Setting Sail

The shipbuilding industry is a key pillar of China’s seaborne economy, and vessel leasing serves as a vital financial support for the sector. A highly specialized asset-heavy and globalized business, vessel leasing is inherently aligned with the “financing + asset leasing” model of financial leasing. Over more than a decade, financial leasing has become an indispensable force driving the prosperity of China’s shipping market.

According to the latestChina’s Shipping Financial Leasing Marketreportpublished by Clarksons Research, as of the end of 2024, Chinese leasing companies managed a fleet of 2,983 vessels, with a total DWT of 170 million, and assets valued at USD 161.1 billion. The fleet delivered by Chinese leasing companies accounted for 9.1% of the global shipping fleet.

JIC Leasing entered vessel leasing in 2018, and established a dedicated team in 2023. The team conducted extensive research at major shipbuilders around the world, engaged in dialogue with industry leaders, and benchmarked against international best practices to ultimately formulate a vessel leasing development strategy “rooted in China with global vision.”

Since launching its first vessel leasing project in 2018, JIC Leasing has embarked on a series of “ice-breaking” ventures to steadily expand and deepen its vessel leasing service offerings, successively completing its first USD-denominated sale-and-leaseback project, first USD-denominated direct leasing project, first newbuild direct leasing project, first ship operational leasing project, and first cross-border RMB-denominated ship financial leasing project.

II. Embracing the Bigger Picture

Shipping handles over 90% of global trade, playing a foundational role in the development of national economies and global commerce. With innovation and green development as its core growth drivers, JIC Leasing has continuously push the boundaries of the vessel leasing sector.

1. Cross-Border Financial Innovation to Advance RMB Internationalization

JIC Leasing has actively explored innovations in cross-border RMB financial leasing. This April, it successfully completed its first cross-border RMB-denominated sale-and-leaseback project involving a Kamsarmax bulk carrier, pioneering diverse leasing solutions to reduce costs and improve efficiency. The following month, it completed another sale-and-leaseback project for a Cape bulk carrier, further advancing its cross-border RMB leasing and deepening the integration of financial services with industrial development.

2. Upholding Green Development and Promoting Marine Growth through the “Chinese Ships, Built in China” Strategy

Leveraging its professional strengths, JIC Leasing is actively promoting the “Chinese Ships, Built in China” strategy, providing strong support for the high-quality development of China’s shipping industry.

In the field of green vessel leasing, it has keenly identified industry transformation trends and strategically invested in ECO Modern bulk carriers featuring environmentally friendly main engines. It is also promoting new vessel designs utilizing direct current propulsion technology, injecting financial resources into the shipping industry’s efforts to achieve its “dual carbon” goals.

This June, a naming and delivery ceremony was held in Nantong for JIC Leasing’s newly built 63,500-DWT bulk carrier, the Pacific Wealth. This vessel is JIC Leasing’s first newbuild ship and serves as a flagship model for the lessee. It complies with the Energy Efficiency Design Index (EEDI) Phase III standards and Tier III emission requirements, offering outstanding advantages in energy efficiency and environmental performance over previous vessels on the market in the same class, particularly in terms of fuel consumption and sailing range.

The vessel will operate along major global shipping trade routes, primarily transporting Chinese general export cargo and imported dry bulk commodities, strengthening the nation’s modern maritime industrial system, and contributing to smooth global trade circulation.

The successful implementation of these green shipping projects stands as a tangible demonstration of JIC Leasing’s commitment to the shipping industry’s green and low-carbon transition.

3. Enriching Fleet Asset Allocation and Driving Diverse Upgrade in Leasing Services

Following the successful completion of an operational lease project for an Ultramax bulk carrier at the end of 2024, JIC Leasing smoothly finalized its first operational leasing project for a Cape bulk carrier in 2025. This milestone not only marks its first Cape bulk carrier business, but also signifies further enhancement of its vessel asset management and leasing service capabilities.

JIC Leasing is deepening customer partnerships by continuously expanding its leasing product portfolio. Guided by the principles of “serving domestic shipping and ensuring efficient capacity,” it supports fleet renewal and upgrades for Chinese shipping companies and injects new momentum into port logistics along the Belt and Road to actively promote collaboration across the shipping industry chain.

III. Building a Foundation in Talent

Adhering to a “people-oriented” philosophy, JIC Leasing has cultivated a multidisciplinary elite team proficient in shipping, finance, and law. Through diverse talent development initiatives, such as mentorship programs and job rotations, it has built platforms for employee growth, fostering a culture of innovation.

Internally, to enhance in-house expertise, the company organizes industry-focused training and knowledge-sharing sessions on topics such as new shipbuilding and shipping market trends. Externally, it actively attracts top talent from the shipping sector to strengthen its talent reserves. By deliberately building a comprehensive talent matrix spanning front, middle, and back-office operations, JIC Leasing has established specialized teams whose shipping-specific expertise forms the core force driving its maritime leasing services.

“Continuous learning” has always been a central theme of JIC Leasing’s maritime business. Taking newbuild projects under construction as an example, the team follows shipbuilding progress from keel laying and ship name approval to sea trials and signing of delivery documents with shipbuilders and lessees. This process requires multiple rounds of communication and coordination with classification societies, maritime authorities, and ship management companies.

Faced with new tasks and challenges, the business team has leveraged continuous learning to overcome obstacles. By continuously accumulating and reflecting on its experiences, they have distilled these insights into clear workflow diagrams and refined them through ongoing practice. This iterative process has progressively deepened the team’s understanding of the entire vessel leasing process and enhanced their systemic thinking.

IV. Risk Management and Control

JIC Leasing actively fulfills its responsibility in risk prevention as a financial firm, adhering to regulatory requirements to balance development with security, while firmly safeguarding the bottom line of no major financial risks.

Focusing on the risk characteristics specific to maritime leasing, JIC Leasing has strengthened its selection criteria for vessel types, shipyards, and clients. It comprehensively analyzes a variety of factors, from detailed vessel classifications to trade market conditions, and focuses on mainstream vessel leasing as its primary business, effectively controlling asset risks by thoroughly assessing clients’ size, operational capacity, and industry status.

Meanwhile, it closely monitors shipping index indicators, promptly reviews and forecasts the shipping market and business directions, and reinforces its management of vessel assets and cash flow, ensuring closed-loop management across the entire equipment lifecycle by enhancing its asset operations and refining its asset disposal methods and channels to mitigate risks.

The journey ahead is long and arduous, but only through persistent effort can progress be made. As China continues to chart new courses path on its path to becoming a maritime power, at each step of exploration, JIC Leasing will stay true to its mission of serving the real economy through financial services. By integrating diverse models such as operational leasing and financial leasing, it will steadily broaden its coverage of shipping projects in countries along the Belt and Road. Through concrete actions, it will support the construction of China’s modern maritime industrial system, allowing Chinese strength to contribute to global shipping.