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

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

According to Clarksons ,Precious presently has an orderbookof 25 bulkers of between 33,000-dwt and 64,000 dwt.

VesselsValue.com prices the orderbook at almost $950m.