CMES Secures Ship Financing Loan, China

China Export-Import Bank will back the construction of China Merchants Energy Shipping’s (CMES) 10 Very Large Crude Carriers (VLCCs) with a $510 million loan.

Last Friday, CMES announced in a regulatory filing that it had entered into a financing agreement with China Exim Bank in Hong Kong for the construction of 10 VLCCs.

A fleet renewal programme for CMES saw the company added 10 new eco-friendly VLCCs at the start of this year, reports Seatrade.

Delivery of the newbuilds will be in phases beginning from October 2014.

 

SBT Staff, November 11, 2013

 

 

 

 

Share this article

Follow World Maritime News

Posted on November 11, 2013

In Depth>

Events>

<< Jan 2020 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

The 9th Annual Event Green Shiptech China Congress 2020

The 9th Annual Event- Green Shiptech China Congress 2020 will be held on next…

read more >

Maritime Reconnaissance and Surveillance Technology

As varied threats in the Mediterranean Sea continue to proliferate, the need to advance…

read more >

2nd GREENTECH IN SHIPPING GLOBAL FORUM

Forum you will find out from the regulators, government bodies and major ports’ representatives what the near…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >