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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).

Lee Hong Liang, Asia Correspondent

September 12, 2017

1 Min Read

Kalyakan - stock.adobe.com

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.

About the Author

Lee Hong Liang

Asia Correspondent

Singapore-based Lee Hong Liang provides a significant boost to daily coverage of the Asian shipping markets, as well as bringing with him an in-depth specialist knowledge of the bunkering markets.

Throughout Hong Liang’s 14-year career as a maritime journalist, he has reported ‘live’ news from conferences, conducted one-on-one interviews with top officials, and had the ability to write hard news and featured stories.

See more from Lee Hong Liang

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