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 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.

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