Iranian Ship Linked to Houthi Attacks Heads Home Amid Tensions
(Bloomberg) — An Iranian ship that’s been linked to Houthi attacks in the Red Sea is returning home, removing a prominent asset in the area as the Islamic Republic braces...
Qatar Shipping SPC, a wholly owned subsidiary of Milaha (Qatar Navigation QSC), has secured a ten year US $110 million ship financing facility with QNB. Proceeds from the facility will be utilized by Qatar Shipping to fund the ongoing construction of 19 harbor assistance vessels. The vessels will be deployed in Mesaieed Port on a 20-year, QR 1.8 billion contract, signed with Qatar Petroleum in 2011.
The financing was arranged by Milaha Capital, another wholly-owned Milaha subsidiary, which provides corporate finance advisory services to the group as part of its mandate.
Speaking on the occasion, Mr. Al-Hetmi said, “This is the second ship financing agreement signed this year as part of a series of financing arrangements the company has been planning for 2012. Debt financing is key to funding our growth plans and we at Milaha recognize this facility with a leading bank like QNB as a token of trust in the company’s solid foundations, performance, and strong future prospects. We are very pleased to be able to build on our long-standing and extensive relationship with QNB across a number of our business units”.
The agreement also makes the QNB Group a basic and reliable source of financing development projects and a major base to improve the communities in all sectors.”
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