Greater China

Paragon ties up Chinese loan

Beijing: Paragon Shipping has taken advantage of close Sino-Greek maritime ties to nail down a $69m loan from China Development Bank (CDB) to help fund the construction of two 4,800 teu ships to be built at Zhejiang Ouhua Shipbuilding. Paragon hinted it may take advantage of low newbuild prices to further modernize its fleet. 

Once again XRTC, the Greek finance specialists headed by George Xiradakis, acted as the lynchpin for the deal.  “The continuous presence and experience of XRTC in the Chinese ship finance, through its excellent cooperation with CDB, shows undoubtedly the development of strong financial support to Greek shipping from the Chinese bank,” XRTC said in a release.   [20/05/13]

 

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