Korean loans for Container Carriers

Korean loans for Container Carriers

The Export-Import Bank of Korea and Busan Bank have provided American joint venture Container Carriers with $87m in ship finance. Container Carriers is owned by Monarch Alternative Capital and Capital Maritime. The loan is linked to two 9,440 teu ships that Container Carriers has ordered at Hyundai Samho for $174.38m.

Busan Bank is providing $10m of the loan and Eximbank the rest. It marks a debut for Busan Bank offering loans to international owners, part of bigger plans by Busan, South Korea’s largest port, to strengthen its position on the global ship finance scene.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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