Sinotrans Shipping offers loan to CSC

Hong Kong: Hong Kong-listed Sinotrans Shipping, announced that it has entered into a loan agreement with China Changjiang National Shipping Group (CSC), a wholly-controlled subsidiary of Sinotrans & CSC Group.

Under the agreement, Sinotrans Shipping will offer a short term loan of $10m to CSC Group with a maturity date of December 31st 2014.

Sinotrans Shipping believes that the loan agreement is expected to generate stable revenue and cashflow streams from the interest income to the company. [05/11/14]

Related Posts