Qatar Shipping Successfully Secure Us $425 Mln in Ship Re-Financing

24/01/2014 16:10 AST

Qatar Shipping, a wholly owned subsidiaryof Milaha (previously known as Qatar Navigation), has secured a 12 year US $425million (equivalent to QAR 1.55 billion) fixed-term ship financing facilitywith a consortium of the following banks: The Bank of TokyoMitsubishi UFJ, Ltd., Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation EuropeLimited, Sumitomo Mitsui Trust Bank, Limited, Mitsubishi UFJ Trust and BankingCorporation, Shinsei Bank, Limited, Development Bank of Japan Inc. and StandardChartered Bank.

Proceeds from the facility will beutilized by all four JV partners to refinance existing debt facilities on fourLNG vessels – S/S “Fuwairit”, SS “Lusail”, S/S “Al Thakhira” and S/S“Al-Deebel. The four vessels are owned by JV companies, wholly-owned byvessel sponsors: Qatar Shipping Company (the largest shareholder), MitsuiO.S.K. Lines, Nippon Yusen Kabushiki Kaisha and Kawasaki Kisen Kaisha – allchartered to Ras Laffan Liquefied Natural Gas Company in Qatar on a long-timecharter basis.


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