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Oman Shipping Co inks $356m loan for two VLOCsOman 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.

Lee Hong Liang, Asia Correspondent

October 8, 2013

1 Min Read
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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.

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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