Qatar Shipping Secures Ship Financing

AME
Thursday, June 21, 2012

Milaha (Qatar Navigation QSC), has secured a ten year $110m (equivalent to QAR400m) ship financing facility with QNB Group

Proceeds from the facility will be utilized by Qatar Shipping to fund the ongoing construction of 19 harbor assistance vessels. The vessels will be deployed in Mesaieed Port on a 20-year, QR1.8bn contract, signed with Qatar Petroleum in 2011.

The financing was arranged by Milaha Capital, another wholly-owned Milaha subsidiary, which provides corporate finance advisory services to the group as part of its mandate.

The financing agreement was signed by Milaha's President & CEO Khalifa bin Ali Al-Hetmi and Mr. Abdulla Mubarak Al Khalifa, General Manager Corporate Banking from QNB Group. Also in attendance were senior executives from Milaha, its subsidiaries and QNB.

Speaking on the occasion, Mr. Al-Hetmi said "This is the second ship financing agreement signed this year as part of a series of financing arrangements the company has been planning for 2012. Debt financing is key to funding our growth plans and we at Milaha recognize this facility with a leading bank like QNB as a token of trust in the company's solid foundations, performance, and strong future prospects. We are very pleased to be able to build on our long-standing and extensive relationship with QNB across a number of our business units."

 

Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

BMT Partners with Aage Hempel

BMT SMART (BMT),  has announced  that Aage Hempel has become an accredited service partner.  This agreement will provide both organizations with the opportunity

Tanker Backlog Builds at Basra

Ships face up to a three week wait; bad weather in February delayed loading, created backlog. * April intake to be reduced to clear backlog By Keith Wallis SINGAPORE,

U.S. Port Delay Boost February Air Freight

Global air freight volumes rose 11.7 percent year-on-year in February, driven by the Chinese New Year, the International Air Transport Association said on Wednesday.

 
 
Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Pod Propulsion Port Authority Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1241 sec (8 req/sec)