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HomeMaritime NewsRegionsAsiaCSCL seeks $100m loan

CSCL seeks $100m loan

CSCL seeks $100m loan
Hong Kong: China Shipping Container Lines (CSCL) is seeking a $100m loan from China Development Bank, Hong Kong branch, to boost its working capital.

State-run conglomerate China Shipping Group, which owns CSCL, said its board members have agreed to back its wholly-owned unit to secure the loan.

Hong Kong-listed CSCL recorded a massive full year loss of RMB2.7bn ($426m) in 2011 and it posted a further loss of RMB1.45bn in the first quarter of this year.

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