The Dongjiang Free Trade Port Zone (DFTP) in Tianjin, a major port city in northern China, has reached a significant milestone. On Wednesday, a signing ceremony marked the leasing of the 1,000th vessel through the DFTP, officially joining the exclusive global group of ship leasing centers with over 1,000 vessels.
The landmark vessel is a state-of-the-art floating liquefied natural gas (LNG) facility built in Singapore. The project represents a massive investment of nearly $1.8 billion, with approximately $1.2 billion financed through leasing arrangements. This makes it the largest cross-border syndicated leasing project on the Chinese mainland to date, both in terms of financing scale and the number of participants involved.
Shi Jinfeng, an official from the DFTP, highlighted the significance of this achievement. “This deal marks another milestone in Dongjiang’s offshore ship leasing industry,” he said. “It showcases our growing capacity to handle large-scale international projects and reinforces our position as a leading global ship leasing hub.”
Specializing in the leasing industry, the DFTP plays a crucial role in China’s maritime economy. It handles over 90% of the mainland’s cross-border leasing of ships and offshore engineering equipment. This milestone not only underscores the DFTP’s rapid growth but also reflects China’s expanding influence in global maritime trade and finance.
For young entrepreneurs and professionals in the Global South, this development signifies new opportunities in international trade and cooperation. As China continues to invest in large-scale infrastructure and maritime projects, partnerships with countries across Asia, Africa, and Latin America are expected to grow, fostering mutual economic growth.
