Global transportation is at the heart and soul of the Libra Group. For over 35 years the Logothetis family has been involved in every aspect of the shipping market - ownership, commercial management and technical management. We have also secured many cargo contracts and formed joint ventures with cargo interests. This activity gave us an international footprint and a precious insight into global commercial cultures.
We have traditionally bought and sold vessels according to market cycles, but even when we sold the vast majority of our shipping fleet between 2004 and 2006 we maintained an unshakable long term commitment to the market. In December 2009 our ship owning and management company, Lomar, re-entered shipping at scale with the landmark acquisition of the Allocean Group and its fleet of 26 vessels. Acquisitions in 2010 and orders for up to new 18 bulk carriers and container ships from China during the first half of 2012 increased numbers further. Today our fleet stands at approaching 60 vessels.
Our global investment philosophy in the transportation sector led us to create Lease Corporation International (LCI) soon after the Libra Group was formed. As with our shipping business we carefully observe market cycles and have bought and sold assets according to market conditions. In November 2007 we completed the $1 billion sale of our entire fleet of aircraft. Then in early 2009 we resumed large-scale acquisition of aircraft. Since its formation LCI has purchased aircraft with a value approaching $5 billion. LCI maintains a modern fleet of over 30 wide and narrow-bodied aircraft which are leased to leading airlines such as Singapore Airlines, British Airways and Air France. In early 2012, we signed a $400m order for AgustaWestland helicopters, marking our move into the helicopter leasing sector.
- Global Reach
- Track Record