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Cosco Shipping’s LNG vessel owning unit inks $112m loan from BoCom HK

Cosco Shipping Development Co’s (CSDC) vessel owning subsidiary Oriental Fleet LNG 01 Limited has secured $112m of loans from Bank of Communications Hong Kong Branch (BoCom HK).

Oriental Fleet LNG 01 owns the 2014-built, 160,000 cu m LNG carrier Golar Crystal that it purchased at a price of $187m from Golar LNG unit Golar Hull in March this year and leased back to Golar Hull for 10 years.

CSDC said the BoCom HK loan will be for a period of 10 years and the funds will be used for general working capital and business expansion.

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