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Pacific Basin secures USD 350 million for 18 bulk vessels

Hong Kong-based dry bulk carrier Pacific Basin has secured USD 350 million in financing from Japanese banks for 18 dry bulk vessels. The ships will be built at various Japanese yards.

Photo: Pacific Basin

Hong Kong's biggest stock-listed dry bulk carrier, Pacific Basin, has finalized an export credit agency (ECA) deal ensuring financing for 18 dry bulk vessels that have already been ordered from various Japanese shipyards, says the carrier in a brief to the stock exchange.

The USD 350 million agreement has a 12 year maturation period and was arranged with the Japan Bank for International Cooperation, with the participation of several other banks - including Citibank Japan and Sumitomo Mitsui Trust Bank, and others.

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