US-listed lpg owner MC Shipping is increasing the amount of money borrowed from longterm lender Scotia Bank.
MC, which earlier today revealed it was terminating its longstanding relationship with shipmanager V Ships, will take out a new $126.8m loan with Scotiabank Europe.
Some $60.8m will be used to repay off an existing loan taken out with the firm in April 2005. The balance will be used to fund the company’s recent acquisition of three vessels, the 15,360-cbf semi-refrigerated Tycho Brahe (built 1982) and Immanuel Kant (built 1983) and the 20,700-cbf Hans Maersk (built 1993).
MC
