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Cosco Shipyard seals $3.1bn financing from China Development BankCosco Shipyard seals $3.1bn financing from China Development Bank

China’s Cosco Shipyard has inked a deal with China Development Bank’s Dalian branch for RMB20bn ($3.14bn) worth of financing over the next five years.

Lee Hong Liang, Asia Correspondent

November 17, 2015

1 Min Read
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“Over the next five years, China Development Bank Dalian branch will provide Cosco Shipyard with RMB20bn under a partnership deal involving investments, bonds, leasing, securities and other financial products, all of which will serve to deepen our cooperation,” Cosco Shipyard announced on its website last Friday.

Additionally, the bank’s Dalian branch and Cosco Dalian Shipyard also sealed a deal for a RMB160m loan for the purpose of boosting cash flow.

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.

 

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