Iason Hellenic Shipping Co. Ltd. has successfully completed a $65 million debt capital raising program for three (3) dry bulk Kamsarmax newbuildings under its management. Ship owners advised by Iason Hellenic Shipping Co. Ltd have entered into three (3) separate loan agreements with two major European shipping lenders for the financing of their respective vessels on order.
These financing arrangements carry a 7-year term and alongside equity capital already committed complete the financing requirements for the fleet on order and under the firm's management. Two of these term loan arrangements are structured as syndicated loan facilities expected to be marketed to Chinese and/or other Asian financial institutions.
The overall newbuilding investment program established in 2010 exceeds $100 million and will bring Iason Hellenic Shipping's Co. Ltd annual cargo carrying capacity to almost 2 million tonnes whilst forming the basis for one of the most modern fleets in the industry.
Iason Hellenic Shipping Co. Ltd is a pre-eminent international transporter of dry bulk commodities and ship management firm founded in 1983, headquartered in Athens, Greece. It focuses on providing commercial, technical and other management services to ship owning companies. Through its managed fleet, Iason Hellenic Shipping Co. Ltd has transported over 27 million tonnes of dry bulk cargoes on behalf of a wide range of blue chip charterers.