Bangkok--14 Aug--EXIM Thailand
EXIM Thailand provides loans to RCL, Thailand’s major container shipping company, to finance its purchase of new container vessels. The lending is in response to government’s financial assistance scheme to enhance Thai maritime business development.
Mr. Kanit Sukonthaman, President of Export-Import Bank of Thailand (EXIM Thailand), and Mr. Sumet Tantuvanich, Managing Director of Regional Container Lines Public Company Limited (RCL), co-sign a loan agreement worth 27.44 million US dollars under the government’s Financial Assistance Scheme for Maritime Business on August 9, 2012 at EXIM Thailand’s Head Office. The loan objective is to finance RCL’s investment in building two container ships with a carrying capacity of 958 TEU (Twenty Foot Equivalent Unit).
The two vessels are scheduled for delivery in early 2013. Their sailing routes cover countries in North Asia, Northeast Asia, Southeast Asia, South Asia, the Middle East and Australia. Such new deliveries will help reduce the average age of the fleet while enhancing RCL’s competitiveness against foreign carriers. Although container shipping is facing sluggish market and excess supply, the new container ships are expected to witness consistent demand for their success as a result of RCL’s 32-year experience in shipping business, extensive network covering main shipping routes and a revised strategic direction.
EXIM Thailand is designated by the Ministry of Finance to provide Thai maritime entrepreneurs with loans in both Thai baht and US dollar denominations for their purchase of new or used ships not over 20 years old carrying Thai flags. Under the Financial Assistance Scheme for Maritime Business, this loan facility aims to promote the utilization of Thai shipping fleet while increasing foreign exchange income and the country’s maritime business development.
For further information, please contact Public Relations Division, Office of Top Management
Tel. 0 2271 3700, 0 2278 0047, 0 2617 2111 ext. 1140-7