Singapore: Singapore Shipping Corporation (SSC) has secured a $16.5m (S$22m) seven-year loan financing facility that will fund the acquisition of a Pure Car Truck Carrier (PCTC) vessel.
The loan has been agreed with “a leading Japanese financial institution”, SSC said in an exchange filing today.
The new PCTC vessel will be delivered this month and is one of two vessels currently pending delivery for the company.
Once delivered, the PCTC will be chartered to a “blue chip shipping major”, SSC said.
“SSCL has always enjoyed good relationship with banks who have been supportive of our business growth. The latest term loan facility provides us the flexibility needed for our business expansion,” said Chua Siew Hwi, SSC’s CFO, said.
The acquisition is something of a change of plan for Singapore Mainboard-listed SSC. Last year, SeaShip News reported SSC was reducing its exposure to shipowning, and investing instead in shore-based maritime businesses. [06/01/15]
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