DP World in Talks With Banks for $3b Loan

Posted by Michelle Howard
Thursday, April 24, 2014

Dubai-owned port operator DP World is in talks with lenders to triple the size of an existing $1 billion loan, as well as extend the lifespan and reduce the interest rate, banking sources told Reuters on Thursday.
 


The firm, part of state-owned conglomerate Dubai World , is aiming to raise the loan to $3 billion, four banking sources said, speaking on condition of anonymity as the information isn't public.
 


The original revolving credit facility was signed in April 2012 and has already been renegotiated once, adding a year to the lifespan in June 2013.
 


"We undertake a regular annual review of our banking facilities as part of active financial management," a spokesperson for DP World said when contacted by Reuters.

 

(Reporting by David French; Editing by Mark Potter)

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

US Coast Guard Travelling Inspectors' Centenary

July 2014 marked the 100th anniversary of the traveling inspection staff, originally created under the Steamboat Inspection Service. These travelers are highly

Pumps Reach Sinking Shrimper Just in Time

A commercial fishing vessel from Brownsville is slowly making its way back to port, thanks to some quick actions by its crew and Coast Guard units, informs the US Coastguard,

Orica Fined Heavily for Australian Pollution Incidents

Orica Australia Pty Ltd has been convicted and penalised $768,250 in relation to charges brought by the NSW Environment Protection Authority (EPA) for pollution

Shipbuilding

Bollinger Fourchon: 13 Years Without a Lost Time Accident

Bollinger Shipyards, Inc. announced that their Bollinger Fourchon, L.L.C. facility has worked 13 years without a lost time accident. Building on a philosophy that starts at the top,

Regulations Threaten Superyacht Innovation

To increase innovation within the superyacht industry, designers need to work with flag states, classification societies and naval architects to ensure regulations are workable, as said by experts.

News Flash! Greek Shipowners Prefer Bulkers

The buying interest from Greek ship owners is focused on bulkers to an increasing extent, BIMCO said. Data from VesselsValue.com reveal that Greek owners were at

Ship Repair & Conversion

Bollinger Fourchon: 13 Years Without a Lost Time Accident

Bollinger Shipyards, Inc. announced that their Bollinger Fourchon, L.L.C. facility has worked 13 years without a lost time accident. Building on a philosophy that starts at the top,

Combat Cold Corrosion via Condition Monitoring

Parker Kittiwake explains why frequent condition monitoring is the most effective measure in combating the recent cold corrosion phenomenon The recent trend in

Hyde Marine, Goltens Enter Engineering Agreement

Hyde Marine, Inc., announced today it has launched an agreement with Goltens Green Technologies division to help shipowners determine how to best fit the chemical

Ports

DMR Publish Latest Container Census Report

Drewry Maritime Research (DMR) says it has just published it's latest Container Census report, providing a wealth of information on the container equipment market.

2 Post Panamax Cranes for Port Freeport Arrive

Port Freeport announced the arrival of their two Post Panamax Cranes. “The Gantry cranes departed from Shanghai, China on May 7th and arrived at Port Freeport on July 19th,

Thome Awarded for Green Efforts in Long Beach

Thome Ship Management has been awarded a Green Environmental Achievement Award by the Port of Long Beach, California, for high standards in performance during 2013.

Finance

Orica Fined Heavily for Australian Pollution Incidents

Orica Australia Pty Ltd has been convicted and penalised $768,250 in relation to charges brought by the NSW Environment Protection Authority (EPA) for pollution

DMR Publish Latest Container Census Report

Drewry Maritime Research (DMR) says it has just published it's latest Container Census report, providing a wealth of information on the container equipment market.

Höegh LNG Partners Launch IPO

Höegh LNG Partners LP ("Partnership"), a Marshall Islands limited partnership formed by Höegh LNG Holdings Ltd. ("Company"), announced today that it has commenced an initial public offering of 9,

News

Höegh LNG Partners Launch IPO

Höegh LNG Partners LP ("Partnership"), a Marshall Islands limited partnership formed by Höegh LNG Holdings Ltd. ("Company"), announced today that it has commenced an initial public offering of 9,

Mass Flow Metering System for MFO delivery in Singapore

As the world's leading bunkering port Singapore is to provide quality bunkering services to vessels lifting bunkers in the port. The use of the Mass Flow Metering

New Standard gets Revised Program for Cooper Basin Approved

New Standard Energy Limited (New Standard) advises that it has received approval for amendments to its five year work program in PEL570 in the Cooper Basin. As part of the revised program,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Navigation Offshore Oil Pod Propulsion Ship Electronics Ship Repair Ship Simulators Sonar Winch
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: 0.2088 sec (5 req/sec)