Singapore Shipping Corporation Limited has entered into a US$16.5 million seven years term loan with a leading Japanese financial institution for the acquisition of a Pure Car Truck Carrier (PCTC).
The PCTC vessel is one of the two vessels currently pending delivery. Upon its delivery in January 2015, the vessel will be chartered to a blue chip shipping major.
SSCL’s CFO Ms. Chua Siew Hwi said “SSCL has always enjoyed good relationship with banks who have been supportive of our business growth. The latest term loan facility provides us the flexibility needed for our business expansion.”
Mr. Ow Yew Heng, Executive Director, added, “The group is rated as conservative and under-geared by international banks.”
Singapore Shipping Corporation Limited is a well-established shipping group in Asia specializing in PCTC and total logistic services. The group operates a fleet of five Pure
Car Truck Carriers on long term charters to blue chip shipping majors.