ASP Finalizes Lease Agreement with BOCOM Leasing for LR2 and MR Tankers
Tianjin, China – Asia Pacific Shipping (ASP) has reinforced its commitment to regional maritime trade through a significant new leasing agreement. During the 2025 China Shipping Leasing Innovation Alliance Conference, held in Tianjin on June 10, ASP finalized a leasing project for LR2 and MR-type product tankers with Bank of Communications Financial Leasing Co., Ltd. (BOCOM Leasing).
The agreement represents an important step in ASP’s fleet development and financing strategy, supporting the company’s continued investment in modern tanker tonnage and strengthening cooperation across the China–Vietnam maritime trade corridor.
Strengthening Regional Maritime Cooperation
The 2025 China Shipping Leasing Innovation Alliance Conference brought together representatives and experts from across the shipping, shipbuilding and financial sectors. Hosted by BOCOM Leasing, the conference focused on the development of shipping finance, green transition, technological innovation and closer cooperation across the maritime industry.
As part of the conference, BOCOM Leasing and Asia Pacific Shipping signed an agreement covering the leasing of LR2 and MR product tankers, with a focus on enhancing maritime trade between China and Vietnam and strengthening regional shipping cooperation.
For ASP, the cooperation provides an additional financing solution to support the development of its tanker fleet while strengthening its relationship with an established financial institution in the maritime leasing sector.
Supporting ASP’s Fleet Development
ASP continues to develop its fleet through vessel acquisitions, newbuilding projects and long-term commercial partnerships. The company currently operates a diversified fleet covering oil, chemical, gas and dry bulk vessels, with a long-term focus on building a modern and efficient fleet.
The leasing arrangement with BOCOM Leasing supports this strategy by providing a financing structure for LR2 and MR tanker development. It also complements ASP’s broader approach to fleet renewal and expansion, allowing the company to strengthen its tanker portfolio while maintaining a disciplined approach to capital deployment.
ASP’s fleet development programme includes modern oil and chemical tankers as well as vessels incorporating technologies that support the transition towards more efficient maritime transportation.
Investing in Modern Tanker Tonnage
The LR2 and MR segments play an important role in the transportation of refined petroleum products and chemicals across international markets. Developing capacity in these segments is aligned with ASP’s strategy to expand its tanker business and serve a broad range of international customers and trading routes.
The company has continued to invest in new-generation tanker tonnage as part of its long-term fleet development strategy. This includes the development of modern oil and chemical tankers and the introduction of methanol dual-fuel technology into its fleet.
ASP’s recent fleet milestones include the delivery of ASP RAINBOW and ASP SUNSHINE, Vietnam’s first commercial vessels equipped with methanol dual-fuel technology, as well as the delivery of ASP MAPLE and ASP CEDAR, two 50,000 DWT MR2 oil/chemical tankers built by K Shipbuilding.
These investments reflect ASP’s approach to combining fleet growth with vessel efficiency, operational reliability and long-term fleet renewal.
Strengthening China–Vietnam Maritime Connectivity
The cooperation with BOCOM Leasing also contributes to stronger maritime and financial connections between China and Vietnam.
China remains an important part of the regional maritime and shipbuilding ecosystem, while Vietnam continues to develop its position as a growing shipowning and shipping market. Cooperation between shipping companies and financial institutions in both countries can support fleet investment and facilitate greater connectivity across regional trade routes.
For ASP, developing long-term relationships with international financial and maritime partners is an important part of building a competitive Vietnamese shipowning platform serving global markets.
A Long-Term Approach to Fleet Development
ASP’s fleet development strategy is based on long-term investment, disciplined operations and continuous improvement.
The company combines shipowning, commercial management and technical management capabilities to support the safe, efficient and reliable operation of its fleet. Its commercial activities include spot voyages, time charters and revenue-sharing pool arrangements, while its technical management focuses on vessel safety, maintenance, regulatory compliance and operational performance.
The cooperation with BOCOM Leasing adds another important element to this approach by strengthening ASP’s access to maritime leasing solutions as the company continues to develop its tanker fleet.
Looking Ahead
ASP will continue to pursue opportunities that support the development of a modern, diversified and future-ready fleet.
By combining long-term shipowning investment with commercial expertise, technical capabilities and strategic partnerships, ASP aims to build a strong Vietnamese shipping platform serving customers and partners across international markets.
The cooperation with BOCOM Leasing marks another step in this journey, supporting ASP’s continued fleet development while contributing to closer maritime cooperation between Vietnam, China and the wider region.
About Asia Pacific Shipping
Asia Pacific Shipping (ASP) is an independent, wholly private Vietnamese shipowner and operator of tankers and bulk carriers. Founded by experienced maritime professionals, ASP has grown from bulk carrier operations into a diversified shipowning business with an expanding tanker fleet and a long-term newbuilding programme.
ASP combines shipowning, commercial operations and technical management to operate its fleet safely, efficiently and reliably across international markets.
For more information, please visit Asia Pacific Shipping:
Asia Pacific Shipping
