EuropeFinance and Insurance

Murmansk Shipping pledges all its assets to Sberbank for $104m loan

Seeking a RBL5.86bn ($104m) loan from Sberbank, Murmansk Shipping Company has put all of its assets down as collateral.

As collateral, the line has offered its 13 vessels, all of the shares in the company, and three buildings.

The Russian Arctic specialist has outlined plans to order three new 30,000 dwt bulkers before the end of this year as part of a fleet rejuvenation process.

The Russian line, founded in 1939, has a fleet of 27 ships equating to 541,000 dwt. The breakdown of the fleet includes 15 bulkers, a passenger ship, five tankers and an icebreaker.

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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