Dry CargoGreater China
Zhuhai Port to borrow $9m for fleet expansion
Zhuhai Port has announced that it plans to apply for a RMB62m ($9m) loan from China Resources Bank of Zhuhai.
The loan will be used to support the newbuilding projects of Zhuhai Port Shipping, the shipowning unit of Zhuhai Port.
In May, Zhuhai Port announced a plan to raise $145m via new share issue to fund the fleet expansion.
Zhuhai Port Shipping was set up in 2017 and set a target of forming a fleet of 55 vessels for bulk transport in the domestic river and coastal regions.