CimbriaViganTOC Europe 2023Port of StocktonVan AalstTelestack
  • Van Aalst
  • Telestack
  • TOC Europe 2023
  • Sailors Society
  • Cimbria
  • Port of South Louisiana

Pacific Basin closes new US$40m loan

(Posted on 03/12/18)

Pacific Basin Shipping Limited, one of the world’s leading dry bulk shipping companies, has closed a US$40 million 7-year term loan facility with Danish Ship Finance A/S.

The facility is an extension of the Company’s existing term loan with Danish Ship Finance A/S and is secured by the same 19 vessels currently secured under the original financing. Borrowings under the new facility will carry a very competitive interest cost of Libor plus 1.5%, extend the Company’s overall amortisation profile and enhance its financial flexibility.

Peter Schulz, CFO of Pacific Basin, says: "We are very pleased with the terms of this additional new tranche to our existing term loan facility which further consolidates our funding flexibility with access to long-term committed funding for the next seven years at an attractive cost which contributes to our competitive vessel P&L breakeven levels. We appreciate the continued support of Danish Ship Finance A/S with whom we have enjoyed an excellent relationship since 2009.”

Pacific Basin Shipping currently operates around 210 dry bulk ships of which 111 are owned and the rest are chartered. Pacific Basin is listed and headquartered in Hong Kong, and provides a quality service to over 500 customers, with approximately 3,400 seafarers and 330 shore-based staff in 12 offices in key locations around the world.

Latest News

Norden enters Capesize segment

(Posted on 31/03/23)

In line with Norden’s 2023-2025 strategy to capitalise on the most attractive opportunities in... Read more


Maritime leaders to explore ammonia as marine fuel in US East Coast

(Posted on 31/03/23)

American Bureau of Shipping, A.P. Moller - Maersk, Fleet Management Limited, Georgia Ports Authority... Read more


MHSS offers free support to seafarers affected by Turkey/Syria earthquakes

(Posted on 31/03/23)

Although news teams might have moved on to other locations and different crises, for those Turks and... Read more


Oldendorff Carriers announces change of leadership

(Posted on 28/03/23)

The board of Oldendorff Carriers, has appointed Patrick Hutchins as the new President and CEO of the... Read more


Swedish Club boosts management team

(Posted on 28/03/23)

The Swedish Club is looking to the future with the expansion and restructuring of the Club’s management... Read more


Groke brings new situation awareness expertise to One Sea

(Posted on 24/03/23)

One Sea has welcomeed Finnish start-up Groke Technologies as its new member, bringing additional expertise... Read more


ClassNK releases FAQs on EU-ETS for shipping

(Posted on 24/03/23)

ClassNK has released “FAQs on the EU-ETS for Shipping”, an overview and necessary preparation... Read more


New AXSMarine tool helps users visualize CO2 emissions and CII

(Posted on 20/03/23)

AXSMarine, a pioneer and market leader in the provision of advanced solutions for shipping professionals... Read more


Shipzero advances the decarbonization of logistics

(Posted on 20/03/23)

Shipzero is enabling transport and logistics companies to create transparency about their emissions... Read more


Isle of Man Ship Registry joins INTERCARGO

(Posted on 07/03/23)

The Isle of Man Ship Registry (IOMSR) has become an associate member of The International Association... Read more


TBA GroupBühler GmbHSailors SocietyTOC Europe 2023Port of South LouisianaThe Wolfson Centre for Bulk Solids Handling Technology
  • Port of Stockton
  • TOC Europe 2023
  • The Wolfson Centre for Bulk Solids Handling Technology
  • TBA Group

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping