The facility will fund the pre- and post-delivery of four51,800-dwt MR product tankers on order at South Korea’s SPP Shipbuilding.
The construction of the four ships marks the inaugurationof this partnership between the two groups into the shipping market.
The vessels, which will be delivered in mid 2013, will becommercially operated within the Vitol and technically managed by Grindrod.
Standard Chartered said the loan facility will provideliquidity and support for the start of the company’s business operations amidstthe continuing volatility in the shipping market.
