Commercial Fishing Vessel Financing
Talcott Factors has identified Commercial Fishing as a key economic driver of the Philippine Economy. Sea fish are a critical element of the Filipino diet.
Red China impounded key Filipino fishing grounds in the West Philippine Sea/ South China Sea when Beijing began militarizing islets and reefs in this seaborne avenue of commerce.
Talcott Factors realized that Filipino vessels would need to be modified for longer distance voyages to new fishing grounds: water tanks, fuel tanks, icing equipment and navigation suites.
Talcott Factors proposes $90 million to refit Ten Percent of the Filipino Commercial Fishing Vessel Fleet to longer range operations. These financings would be accomplished by Talcott’s proven Sale-Leaseback contract.