The Precious Shipping Public Company (PSL) group, a Thai dry bulk shipping company headquartered in Bangkok, announced on October 2024, that it had entered into a $13.5 million (approximately 2 billion yen) loan agreement with Iyo Bank’s Singapore branch. The loan will be used to fund the purchase of a used handy-size bulk carrier.
Founded in 1989, PSL operates a fleet of 39 vessels, including handy-size, supramax, ultramax, and cement carriers. The company has been listed on the Stock Exchange of Thailand since September 1993.
(Text by Hiro Yamamoto)
(Photo courtesy of PSL, Hirofumi Yamamoto)
Iyo Bank’s Singapore branch was upgraded from a representative office to a full branch in December 2016. Over the past few years, the branch’s ship finance portfolio has remained stable at $1.7 billion. Iyo Bank leverages its expertise in ship financing, cultivated through close ties with Japanese shipowners, to support foreign shipowners, contributing to the bank’s growth.
The borrower for this loan is Precious Hibiscus, a wholly-owned Singapore subsidiary of PSL, with the loan guaranteed by PSL.
The vessel subject to the loan is the *Western Lima*, a 39,260-deadweight-ton bulk carrier. According to UK-based VesselsValue (VV), the ship was built for a Japanese shipowner by Jiangmen Nanyang Ship Engineering in Jiangmen, China, and was completed in 2015. VV reports that the vessel’s sale price in this transaction is $19.5 million.
Gautam Khurana, PSL’s Director of Finance, attended the Global Maritime Forum held in Japan from October 15 to 17. Speaking to Hirofumi Yamamoto, Khurana remarked, “Although there are few operators in Thailand, we have a solid foundation and aim to provide satisfactory services to our customers as an Asian shipping company.”
〆伊予銀行シンガポール支店、タイ船社に1350万㌦を融資。中古ハンディの購入資金
タイのドライバルク船社プレシャス・シッピング・パブリック（本社・バンコク、Precious Shipping Public Company, ＰＳＬ）グループは2024年10月、伊予銀行のシンガポール支店と１３５０万㌦（約20億円）の融資契約を締結したと発表した。ＰＳＬの中古ハンディサイズバルカーの購入資金に充てる。
ＰＳＬは１９８９年に発足し、ハンディサイズ、スープラマックス、ウルトラマックス、セメント船計39隻の船隊を運航している。同社は１９９３年９月にタイ証券取引所に上場した。
(Text by Hiro Yamamoto)
Photo courtesy=PSL, Hirofumi Yamamoto
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