China Merchant Energy Shipping (CMES) announced that it has signed a 10-year loan contract with China Exim Bank in Hong Kong to fund its VLCC orders.
Under the agreement, CMES will borrow $510m from China Exim Bank to fund 60% of the total ship price of 10 VLCCs.
CMES ordered a total of 10 VLCCs at CSIC and Shanghai Waigaoqiao Shipbuilding in February 2013. The ships will be delivered at the end of 2014 and the first half of 2015.
CMES Borrows $510m for 10 Newbuild VLCCs
2014-06-30
2270人
Source：SinoShip News
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