Pre-delivery loan with principal limit
of US$273,000,000 to finance the
construction cost of a vessel, bears
interest at 3.25% (2012: 3.25%) per
annum above USD LIBOR of 0.18%
to 0.38% (2012: 0.24% to 0.47%)
per annum. Upon completion of the
vessel, the loan is repayable over 18
instalments commencing 6 months
after completion date and a bullet
repayment 60 months after final
completion date. The pre-delivery
loan is secured by way of assignment
of shipbuilding contract, charge over
equipments relating to the vessel,
assignment of all performance
guarantee issued by equipment
suppliers,