Riga tanker owner Latvian Shipping Company (LSC) has inked a short-term loan to parent Vitol worth EUR 284m ($347.68m).
The company said the money has gone to Vitol Netherlands, its controlling shareholder with 97%.
The loan matures on 30 September this year at interest of 0.5%, and includes an option to terminate early.
The deal was struck to partly cover LSC's "group financial obligations", it added.
