Foremost secures Taiwanese financing for newbuild bulker pair

Foremost secures Taiwanese financing for newbuild bulker pair

US-based dry bulker owner Foremost Group has entered into a $41.14m loan deal with First Bank of Taiwan to finance two of the company’s newbuildings.

The five-year financing deal will support Foremost with the construction of 84,700 dwt post-panamax bulk carriers Feng May and Ting May at Japan’s Oshima Shipbuilding.

The delivery of the two vessels are scheduled in April and October of 2019.

Foremost Group, run by the Chao family, currently operates a fleet of 17 bulkers, with another 14 bulkers on the orderbook.

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.

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