The Export-Import Bank of Korea in collaboration with Busan Bank have provided a total of USD 87 million in ship financing to US private equity fund Container Carriers.
Container Carriers is owned by US-based Monarch Alternative Capital and Capital Maritime Group.
The loan will be directed at financing construction of two 9,443 TEU container carriers at Korean shipbuilder Hyundai Samho Heavy Industries worth a total of USD 174.3 million.
The Export-Import Bank of Korea will provide majority of the loan as Busan Bank will assign USD 10 million for the purpose.
Capital Ship Management of Greece inked a shipbuilding deal with the Korean builder for four 9,400 teu containerships in April 2014. The newbuilds are slated for delivery between the third quarter of 2015 and the first quarter of 2016.
World Maritime News Staff