Scorpio Bulkers Secures Loan for Kamsarmax Newbuilding

Illustration: Scorpio Bulkers vesselImage Courtesy: Scorpio Bulkers

Monaco-based bulker owner Scorpio Bulkers has received a commitment for a new loan to finance its Kamsarmax bulk carrier newbuilding.

The vessel in question is currently under construction at China’s shipbuilder Jiangsu New Yangzijiang Shipbuilding Co Ltd.

The unit, which features 82,000 dwt, is expected to join its owner in the third quarter of 2018.

Under the agreement, reached with an undisclosed European financial institution, the company would receive a loan of up to USD 12.75 million.

The facility has a final maturity date of five years from delivery and bears interest at LIBOR plus a margin of 2.40% per annum.

The terms and conditions are similar to those set forth in the company’s existing credit facilities.

The loan is subject to customary conditions precedent and the execution of definitive documentation.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Sep 2019 >>
MTWTFSS
26 27 28 29 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 1 2 3 4 5 6

Defence Safety Conference 2019

The Defence Safety Conference returns to London this October as the only event solely dedicated to enhancing safety across all aspects of defence.

read more >

Shipping Transformation Asia

Shipping Transformation Asia will provide a platform for future-focused discussion in the shipping,…

read more >

3rd MarSat Workshop

The MARSAT project wants to operationalise and standardise EO products and aims to develop…

read more >

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >