Bangkok: Thai dry bulk owner Precious Shipping has secured an $81.5m term loan facility from the Export-Import Bank of Thailand to finance part of its massive newbuild plan. Precious has earmarked a total spend of $789m for 29 new ships in the coming two years. The expansion should add around 1m dwt to the fleet while increasing the average size of each ship from 33,894 dwt to 47,885 dwt.
Precious said its plans for the coming two years are to “expand fleet, fix ships on long term charters, and sell older ships at a profit.” [02/06/14]
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