The world’s largest shipping bank BNP Paribas has formed a comprehensive new alliance with Japan’s SBI Leasing Services to market leasing deals.

The partnership will be focussed on the growing market for Japanese Operating Lease with Call Option financing structures, known as JOLCO.

The marine JOLCO market is expected to grow to ¥593.5bn ($4.2bn) this year, according to local Japanese reports.

Tokyo-based SBI Leasing specialises in JOLCO deals in both the aircraft and the marine sectors.