XRTC appoints China Development Bank for Greek Shipping Finance

Following an expansion policy of its consultancy services internationally XRTC Business Consultants of Greece, Shipping Market announced the signing of a contract for the Provision of Financial Advisory Services to China Development Bank. Piraeus based XRTC, has become the Preferred Shipping finance Consultant of the major Chinese institution whose aim is to expand its business in the shipping finance sector as well as in the Greek Shipping Market.

The signing took place on March 1st 2011 at Yin Chuan, the capital city of the northwest province of China, Ningxia. CDB Ningxia Branch acted as legal representative of CDB following its successful penetration in the Ship Finance sector through Greek Shipping.  XRTC commenced its relation with the Chinese banking sector early 2009 and since then it has advised various shipping companies and financial institutions interested in the Chinese shipping finance sector.

XRTC acted as Project Advisor for the first entirely Chinese financing committed to George Economou’s private shipping arm Cardiff Group from China Development Bank. Since then, more transactions have been arranged by China Development Bank whose task among other is to co-ordinate the freshly established pledged funding to back Greek Shipowners ordering newbuildings in Chinese yards.

Full article, ELNAVI magazine, April 2011, Page. 42

Read also this article in : Greek

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