Grindrod Shipping has drawn down it's $31.4m newbuilding loan.
Thursday, the Singapore-based shipowner announced that it had taken delivery of the 61,000-dwt IVS Okudogo (built 2019) from Japan's Shin Kurushima Toyohashi shipyard.
The bulker accounts for $15.7m of the facility from IYO Bank and is repayable in quarterly installments with a balloon payment at the end. It comes with an interest rate of Libor plus 200 basis points per year and is secured, in part, by the ship itself.
