Islamic investors fund Indonesian shipping company

An investment fund compliant with Islamic Shari'ah law has completed its first shipping transaction in Indonesia. The Al Rubban NFC Shipping Fund IV, established at the end of 2004 by DVB, US investor Northern Navigation and Kuwait Finance House, has acquired a product tanker from PT Arpeni Pra...

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Bibliographic Details
Published in:Asset Finance International 2005-02, p.1
Format: Article
Language:English
Subjects:
Islamic financing
Joint ventures
Leasing
Operating leases
Purchase options
Shipping industry
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Summary:An investment fund compliant with Islamic Shari'ah law has completed its first shipping transaction in Indonesia. The Al Rubban NFC Shipping Fund IV, established at the end of 2004 by DVB, US investor Northern Navigation and Kuwait Finance House, has acquired a product tanker from PT Arpeni Pratama Ocean Line in a deal signed at the end of January 2005. The fund will charter the 1990-built tanker to Arpeni for a period of five years, with a purchase option at the end of the lease.
ISSN:1367-8086