In addition, the sector is still viewed as niche and, therefore, as offering interesting investment opportunities in what is expected to be a growing trade in chemicals. 

In January, RCOG Tank Leasing, a joint venture between Rampart Capital Oil and Gas Holdings Ltd, bought a majority stake in GEM Containers Ltd.

Giles White, chief investment officer of Rampart Capital, said: “Heidi Sommerville and her team at GEM have built a very solid operating platform that underpins valuable industry relationships. We see tank containers as representing an attractive and expanding niche within the leasing market, and we hugely look forward to working with Heidi and her experienced team to scale up the business and seize the exciting opportunities available.”

Sommerville was also positive about the deal. “Our team has built up a robust and scalable platform for acquiring and managing tank containers for lease, and I thank them for their valuable contribution in bringing GEM to this point,” she said. “But the access to new proprietary capital, together with the financial expertise of our new shareholders, will enable us to expand the business and offer our customers a greater range of equipment and leasing products.”

Meanwhile in March, Singapore headquartered Raffles Lease, which is fully owned by Buss Capital Group, announced a strategic partnership with the Tokyo stock listed Financial Products Group. This has resulted in the latter setting up FPG Raffles Holdings in Singapore, into which the container leasing company has been absorbed.

Raffles controls approximately 7,000 tanks and the new deal will give it the financial muscle to expand this pool and widen its service offerings. “It is a privilege for Raffles to enter the Japanese market in partnership with FPG, and our liner and tank container operator customers can now look forward to competitive lease financing and a wider range of leasing products,” said Danny Wong, president of Raffles. “Our customers will benefit from FPG’s renowned capabilities and tax structuring expertise, and from Raffles’ proven track record in container operating leasing.” 

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This complete item is approximately 500 words in length, and appeared in the April 2017 issue of WorldCargo News, on page 30. To access this issue download the PDF here.