Capital close to Chinese funding for VLCC newbuildings

Kalogiratos

Capital Maritime & Trading Corp is close to reaching an agreement with China Merchants Bank (CMB) and Industrial and Commercial Bank of China (ICBC) for financing totaling USD 200 million.

The company will use the funds for four VLCCs it is building at Samsung Heavy Industries (SHI). The vessels are slated for delivery in 2019.

CEO Jerry Kalogiratos confirmed the negotiations during the 20th Marine Money Greek Ship Finance Forum.

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