SSC secures financing for new PCTC

Singapore Shipping Corporation has entered into a term loan facility of $77 million which covers the acquisition of the m/v Taurus Leader
SSC secures financing for new PCTC

Singapore Shipping Corporation (SSC) has secured financing for the acquisition of a new pure car truck carrier vessel.

The company has entered in a term loan facility of up to $77 million with a undisclosed Japanese financial institution. 

SSCL’s CFO Chua Siew Hwi said, “The successful conclusion of the term loan agreement underscores the faith and trust that our partner bank has in SSCL and our future prospects.”

Ow Yew Heng, Executive Director added, “The acquisition of three vessels in FY2015 is quite a formidable feat and it has enabled the group to accelerate its fleet expansion program.”

The PCTC, a 7,000 car capacity m/v Taurus Leader, will be delivered in March 2015 after which it will be charter to a blue chip shipping major. 

Singapore Shipping Corporation operates a fleet of six pure car truck carriers on long term charters to blue chip shipping majors. 

XXX

by Laura Stackhouse

readmt.com Editor

Laura Stackhouse is the Web Editor of readmt.com, an official publication of the International Marine Purchasing Association (IMPA). To discuss news, features or contributing to readmt.com please get in touch.

Tracker Pixel for Entry