Precious Shipping seals $81.5m loan

August 04, 2014

Thailand’s Precious Shipping has secured a fresh credit facility of $81.5m from Export-Import Bank of Thailand.
The dry bulk shipowner said the loans will be used to finance up to 80% of the contract price of new bulk carriers ordered for construction by the company, provided that such vessels are not less than 35,000 dwt.
Precious Shipping said that the loan will be repaid over 10 years in 39 equal quarterly installments, beginning from the end of the next quarter.