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 worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

Related Posts