Arab Petroleum Investments Corp (Apicorp), a multilateral development bank owned by the Organisation of Arab Petroleum Exporting Countries (OAPEC), has made it first foray into ship finance by teaming up with London finance house Tufton Oceanic in a new medium-range (MR) tanker fund.
Ahmad Bin Hamad Al Nuaimi, Apicorp’s chief executive and general manager, promises that this is the first step in what the bank hopes will be a more widespread involvement in ship financing.
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