Foremost Group seals cross-strait financing deal for bulker pair

Foremost Group seals cross-strait financing deal for bulker pair

Foremost Group, a New York-based shipping and trading enterprise, has signed financing agreements with China Exim Bank and Taiwan’s First Commercial Bank.

Under the agreement, the two banks will together provide $300m financing to support Foremost Group’s newbuilding project of two 180,000dwt bulkers in China. Foremost Group ordered the two vessels at CSIC-affilated Qingdao Beihai Shipbuilding Industry in 2014.

It is the first time that financial institutions in China and Taiwan have worked together on a ship financing deal.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

Related Posts