Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.
HomeMaritime NewsRegionsAsiaSinotrans gives short-term loan to CSC unit

Sinotrans gives short-term loan to CSC unit

Sinotrans gives short-term loan to CSC unit
Sinotrans Shipping continues to prop up its beleaguered subsidiary, agreeing to extend a $10m short-term loan to its unit CSC, it said in a stock market announcement.

The loan which matures on 31 December 2014, carries an interest rate of 1.2% and will be used for CSC's "internal cash flow", the company said.

It added that "the directors consider that the entering into of the Loan Agreement is expected to generate stable revenue and cashflow streams from the interest income to the company".

TAGS: Finance & Insurance
Related
Stuart Chambers chairman of Anglo American
What would a BHP takeover of Anglo American mean for shipping?
Apr 26, 2024
LNG bunkering vessel
Avenir LNG orders pair of LNG bunkering vessels from CIMC Enric
Apr 26, 2024
DP World and Sabah Ports signing
DP World and Sabah Ports to expand East Malaysia terminal
Apr 26, 2024
Wartsila-methanol-engine.png
Wärtsilä bags China's largest methanol newbuild engine order
Apr 25, 2024