Grimaldi seeks €200m loan

Grimaldi seeks €200m loan

Grimaldi Group of Italy has headed back to Luxembourg-based European Investments Bank asking for a €200m loan ($212.5m) on a total cost of €501m ($531m) to finance up to 10 car carrier newbuildings ordered at Yangfan and Jinlin shipyards in China.

EIB reports on its website the Euromed roro project as the “modernisation and enlargement of Grimaldi Euromed SpA fleet through the acquisition of 10 new Pure Car/truck carrier vessels which are to be employed on their Europe-North-America route”. After that the European financial institution adds: “The project will contribute to the development of a sustainable transport system for short and long-distance freight cargo”.

The loan request from Grimaldi is still under appraisal. In the recent past the Italian shipping company obtained a €185m ($196m) credit facility from the European Investment Bank for six conro newbuidlings ordered in South Korea at Hyundai Mipo.

A green light for this second loan from EIB is expected in the coming months.

Nicola Capuzzo

Nicola is a highly qualified journalist focused on transport economics, logistics and shipping with broad experience in both online and printed media. Specialties: shipping, ship finance, banking, commodities and port economics. He regularly interviews Europe's top shipowner executives for Maritime CEO magazine.

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