Precious Shipping’s Plan to Expand Fleet by 1 Million Deadweight Gains Financing

Thai dry bulk shipping firm Precious Shipping (PSL) announced today the executing of a USD 81.50 million Term Loan Facility with Export-Import Bank of Thailand to finance up to 80% of the contract price of new dry bulk carriers.  The rate is 6 months LIBOR plus margin. This block of financing is only the tip of the iceberg needed to fund Precious Shipping's $789 million … [Read more...]

Precious Shipping Heads to Nanjing for More Bulk Carriers

Precious Shipping, the Thailand-listed cement shipper, announced this week the newbuild order for two 64,000 dwt bulk carriers from Nanjing-based Sainty Marine Corporation. The total contract value for the order is USD $55.80 million and the vessels are scheduled for delivery by the end of Q1 2015. Precious Shipping notes the two vessels will be flagged in either … [Read more...]

Precious Shipping Orders Another $24 Million Cement Carrier, More Ships on the Way

Precious Shipping, a Bangkok-based dry cargo operator specializing in the small handy size (10,000 to 30,000 DWT) sector of the tramp freight market, announced yesterday in an exchange statement they have ordered their fourth, 20,000 dwt cement carrier from Shanhaiguan New Shipbuilding Industry Co. The total cost of the newbuild is USD $24.48 million and will be funded via … [Read more...]