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HomeMaritime NewsRegionsMiddle East & AfricaOman Shipping Co inks $356m loan for two VLOCs

Oman Shipping Co inks $356m loan for two VLOCs

Oman Shipping Co inks $356m loan for two VLOCs
Oman Shipping Company (OSC) has inked a OMR137m ($355.8m) loan with two local banks to fund the purchase of four VLOCs, the company announced in a statement.

The 400,000 dwt mega-sized ore carriers will be chartered to Brazil's mining giant Vale International for 20 years.

The loan facility has a lifespan of 12 years with Bank Muscat contributing OMR107m and Bank Dhofar offering OMR30m.

Vale has iron ore pelletising facilities in Oman with a capacity of 9m tonnes a year, and part of the volume is exported to South Asia.

TAGS: Dry Bulk Finance & Insurance dry bulk shipping Iron ore vloc
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