TOC EventsTBA GroupTMS Awards 2020Sailors SocietyPort of Vancouver USABühler GmbH
  • Bühler GmbH
  • TMS Webinar Series COVID-19: A Leadership Perspective - ‘Container Terminals in the Pandemic - Rapid bounce back or slow recovery?
  • TBA Group
  • Port of South Louisiana
  • Telestack
  • Cleveland Cascades Ltd

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

CSM and Permuda announce JV

(Posted on 25/10/20)

The Italian ship-owning Group Premuda, controlled by Pillarstone, the industrial and financial platform... Read more


North to enhance routing risk advice

(Posted on 23/10/20)

Leading international shipping insurer North P&I Club has launched a new marine risk awareness solution... Read more


IMEC commissions Ocean to develop competencies for Ratings

(Posted on 23/10/20)

The International Maritime Employers’ Council (IMEC) has commissioned Ocean Technologies Group... Read more


Piracy increasing off West Africa

(Posted on 18/10/20)

ICC International Maritime Bureau (IMB) figures show a rise in piracy and armed robbery on the world... Read more


CCS fleet grows to 155m GT

(Posted on 16/10/20)

China Classification Society (CCS) grew its serviced fleet to 34,974 vessels in 2019, marking another... Read more


Pandemic has some positive effects on training

(Posted on 16/10/20)

Leading international catering management and training provider, MCTC has revealed that COVID-19 has... Read more


INTERCARGO address key issues

(Posted on 12/10/20)

The International Association of Dry Cargo Shipowners (INTERCARGO) has held its Annual General Meeting... Read more


Jones steps down as BRS chairman

(Posted on 12/10/20)

The BRS Group has a new chairman. As the partnership agreement stipulates, on reaching the age of 65... Read more


Høglund and Veracity to collaborate

(Posted on 12/10/20)

Høglund Marine Solutions (Høglund) and Veracity by DNV GL (Veracity) have signed a collaboration... Read more


German Shipowners welcome LNG investments

(Posted on 07/10/20)

“As one of the world’s major shipping nations, Germany needs an LNG infrastructure for its... Read more


TMS Webinar Series COVID-19: A Leadership Perspective - ‘Container Terminals in the Pandemic - Rapid bounce back or slow recovery?TelestackViganThe Wolfson Centre for Bulk Solids Handling Technology Cleveland Cascades LtdChina Coaltrans 2020
  • TOC Events
  • TMS Awards 2020

Subscribe to our newsletter

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