Bangokok-based bulker operator Precious Shipping has received a sustainability-linked financing package worth $85m from the World Bank’s International Finance Corp (IFC).
The move allows Precious to join the growing ranks of shipowners that have taken advantage of green loans offered by financial institutions keen to lend cash to companies that want to boost the sustainability of the shipping industry.
Precious said the proceeds of the loan will be used to finance four specialised cement carriers and one bulk carrier owned and operated by wholly owned subsidiaries.
