The Khalid Hashim-led company is borrowing $38.7m fromBangkok Bank to pay for the vessels ordered at Shanhaiguan New ShipbuildingIndustry Co.
Precious booked the 20,000-dwt ships in December to replace twodelayed cement carriers cancelled with ABG Shipyard in India.
It paid $24.2m each for the vessels and followed up in Aprilwith an order for a third unit at the same price.
The vessels will be delivered in January, April and Julynext year.
The
