Export Finance Money Looks At Newbuildings

New York listed Overseas Shipholding Group has secured a USD 389 million, 12 year secured facility from the government owned Export-Import Bank of China (“China EXIM bank”), in the bank’s first loan facility extended to a US company. The borrowings will be used to finance three VLCCs and two Aframax crude oil tankers built in China.

In another transaction, the Export-Import Bank of Korea (“KEXIM”) has extended a USD 142 million pre and post delivery term loan facility for two new VLCC vessels being built at STX Shipbuilding and Marine Co., Ltd to be chartered to STX Pan Ocean Co., Ltd. The transaction team consisted of partner Chris Lowe and associate Chien Herr Lee of Singapore office of Watson, Farley & Williams LLP.

This is only an excerpt of Export Finance Money Looks At Newbuildings

Content is restricted to subscribers. To continue reading please Log-In or view our subscription options.

Existing Users Login
Username
Password

Related Archive Files

• No Related Post