Atlantska Plovidba Refinances Kamsarmax Duo with New Loan

BulkerIllustration. Image Courtesy: Pixabay under CC0 Creative Commons license

Croatian shipping company Atlantska Plovidba has secured a new loan to refinance two vessels, according to the company’s stock exchange filing.

Under an agreement with an undisclosed European bank, the company received a USD 23.2 million loan to refinance two Kamsarmax bulk carriers.

The vessels in question are the 79,000 dwt AP Argosy and AP Jadran. The units were built in 2012 and feature a length of 229 meters.

The loan facility has a tenor of five years and is due at the end of 2023, Atlantska Plovidba said in the filing.

The development comes on the back of a fleet expansion move, which the company undertook earlier this month. Namely, Atlantska Plovidba acquired a 2008-built Panamax bulker at a price of USD 11.95 million. The Maltese-flagged M/B Pelagos was bought from a mortgage lender on November 7 in the Port of Gdynia, Poland.

In April 2018, Atlantska Plovidba refinanced its loan obligations for two ships, Miho Pracat and Zagreb, worth a total of USD 18 million. This credit facility was also agreed with an undisclosed European lender and matures in 2023.

World Maritime News Staff

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