Cosco Shipping secures financing for tanker vessels

Cosco Shipping has signed a credit agreement with bank Cexim for USD 544 million which will be used to finance ten tanker vessels, notes Fearnley Securities in an update.

by LOUISE VOGDRUP-SCHMIDT

Chinese shipping giant Cosco Shipping has secured financing for ten tanker vessels with a USD 544 million loan from China Export Import Bank (Cexim), reports Fearnley Securities in a news update, noting that the financing of the tanker vessels is part of larger USD 4.2 billion credit arrangement between the bank and the shipping company.

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