Precious nets new loan

Precious Shipping has tied up an $81.50m loan to help pay for newbuildings.

Thai owner Precious says the facility from Export-Import Bank of Thailand (EXIM) will run for 10 years.

In a statement to investors the shipowner said that the loan can be used to fund bulkers of over 35,000 dwt.

According to Clarksons ,Precious presently has an orderbook of 25 bulkers of between 33,000-dwt and 64,000 dwt. prices the orderbook at almost $950m.