Singapore Shipping Corporation Limited (“SSCL” or “the Group”) secures US$16.5 Million Term Loan Facility
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Singapore, 6 January 2015 – Singapore Exchange Mainboard-listed Singapore
Shipping Corporation Limited wishes to announce that it has entered into a US$16.5
million seven years term loan financing facility (“Term Loan”) with a leading Japanese
financial institution.
The Term Loan will be used to finance the acquisition of a Pure Car Truck Carrier
(“PCTC”) vessel. The PCTC vessel is one of the two vessels currently pending delivery,
as stated in the announcement dated 5 November 2014. 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
undergeared by international banks.”
About Singapore Shipping Corporation Limited
Singapore Shipping Corporation Limited is a well-established shipping group in Asia
specialising in PCTC and total logistic services. The Group operates a fleet of 5 Pure
Car Truck Carriers on long term charters to blue chip shipping majors.