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Qatar Shipping Secures $425 Million Ship Finance Loan

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January 23, 2014

Qatar Shipping, a wholly owned subsidiary of Milaha announced today the securing of a 12 year, US $425 million fixed-term ship financing facility with a consortium of the following banks:

  • The Bank of Tokyo Mitsubishi UFJ, Ltd
  • Mizuho Bank, Ltd.
  • Sumitomo Mitsui Banking Corporation Europe Ltd
  • Sumitomo Mitsui Trust Bank, Ltd
  • Mitsubishi UFJ Trust and Banking Corporation
  • Shinsei Bank, Ltd
  • Development Bank of Japan Inc.
  • Standard Chartered Bank

Proceeds from the facility will be utilized by all four JV partners to refinance existing debt facilities on four LNG vessels – S/S Fuwairit, SS Lusail, S/S Al Thakhira and S/S Al-Deebel.

The four vessels are owned by JV companies, wholly-owned byvessel sponsors: Qatar Shipping Company (the largest shareholder), Mitsui O.S.K. Lines, Nippon Yusen Kabushiki Kaisha and Kawasaki Kisen Kaisha – all chartered to Ras Laffan Liquefied Natural Gas Company in Qatar on a long-time charter basis.

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