Dry CargoEuropeTankers

Navios revisits controversial loan

Photo of Sam Chambers Sam ChambersSeptember 20, 2016
1 Less than a minute

A controversial loan between Navios sister companies that brought a lawsuit and was eventually scrapped in April has been resuscitated under different terms.

Tanker firm Navios Acquisition will lend dry bulk parent Navios Holdings a $70m secured loan.

Compared to the first planned one, announced in March, this reworked loan has higher collateral and a higher interest rate.

The announcement was made after trading hours in New York last night.

Tags
Photo of Sam Chambers Sam ChambersSeptember 20, 2016
1 Less than a minute
Photo of Sam Chambers

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.
Back to top button