Global transportation is both a core business sector and a powerful legacy for the Libra Group. For nearly 40 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 2007 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. In the ensuing years we acquired over 90 vessels for approaching $1.5 billion, including orders for over 25 modern, fuel-efficient new bulk carriers and container ships from Chinese shipyards. In August 2014 we sold all our offshore vessels. Today our fleet stands at approaching 80 ships.
Our global investment philosophy in the transportation sector led us to create Lease Corporation International (LCI) soon after the Libra Group was formed in 2003. 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 $6 billion. LCI maintains a modern fleet of wide and narrow-bodied aircraft with a lessee portfolio that includes leading airlines such as Singapore Airlines, British Airways and Air France. In early 2012, we marked our entry into the helicopter leasing sector with a $400m order for Leonardo (formerly AgustaWestland) helicopters. These are deployed globally, typically in the offshore and search and rescue sectors. Today we have approaching 90 rotary wing aircraft in our fleet valued at around $1.5 billion, including a $645 million order from Airbus Helicopters.
- Global Reach
- Track Record