Hamburg Commercial Bank (HCOB) is providing dry bulk specialist Hamburg Bulk Carriers (HBC) with refinancing for seven ships.

It will provide a $95m loan over five years.

The handymax bulkers are between four and seven years old, with a capacity of about 43,500 dwt each.

The deal marks a step forward for HCOB’s fledgling partnership with Philip Clausius-led asset brokerage Transport Capital, which has been formed with the goal of representing the privatised German bank in Asia.