German lender NordLB is providing $41.85m to part-fund two bulker newbuildings for Thai owner Precious Shipping in China.
Thai owner Precious Shipping said the cash finances up to 75% of the price of the new 64,000-dwt ultramaxes, which are vessels number three and four in a series of 12 on order at Sainty Marine. The loan is repayable over eight years and gives the bank a first priority mortgage on the bulkers. NordLB has required the ships – ordered in February - to be registered in Singapore.
Dry Bulk Shipping News - Shipbroker Notes