The Wall Street Journal reported General Electric outlined its plans for the ship-finance business, diversifying its $48 billion aircraft leasing unit to support sales to the oil and gas sector.

According to the Journal, GE launched a marine business in January, bundling its engines and services for the offshore energy industry, and plans to use its GE Capital Aviation Services, or GECAS, aircraft unit to finance vessels that have a high level of GE components.

The Journal says further GECAS will become the company’s largest finance operation after it completes the sale of billions of dollars in assets held by its GE Capital arm, and it is being used as a vehicle to support sales of a broader range of the company’s industrial products.

To read the entire Journal article, click here.