S’hail Shipping secures $19.2m loan from Qatar Development Bank

S’hail Shipping secures $19.2m loan from Qatar Development Bank

Qatari owner S’hail Shipping and Maritime Services has reached a financing agreement with Qatar Development Bank.

Under the agreement, Qatar Development Bank has agreed to extend a QR70m ($19.2m) creditor facility to S’hail, to be used by the company to expand its fleet.

S’hail Shipping was incorporated at the end of 2016 and currently owns a fleet of four bulkers comprised of two supramaxes and two panamaxes.

“Despite the sudden embargo on Qatar in 2017, the company, through its excellent in-house team and capabilities, worked to ensure in overcoming the consequent challenges. As a result, in its first year of operation, the company found itself trading its ships globally rather than their planned regional movement of gabbro from the UAE to Qatar,” the company said at its annual general meeting.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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