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Latvian Shipping Company extends tanker loans
Latvian Shipping Company has extended the tenor of its $33.2m loan with Crédit Agricole Corporate and Investment Bank by a further two years. The loan finances LSC’s MR product tankers Latgale (51,400 dwt, built 2011) and Zemgale (51,400 dwt, built 2011). “An extension of the existing bareboat charters was a mandatory pre-condition of the lending bank in order to provide sufficient security and stable cash flow for the loan facility,” Robert Kirkup, chairman of LSC’s board, said today in a release.
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