SSCL Inks Loan for Its Pure Car Truck Carrier

Singapore Exchange-listed Singapore Shipping Corporation Limited (SSCL) has entered into a loan facility intended to finance the acquisition of a Pure Car Truck Carrier (PCTC).

The loan, secured with an undisclosed financial institution from Japan, is worth up to USD 77 million, the company said.

Upon its delivery in March 2015, the vessel with capacity of 7,000 cars will be chartered to a blue chip shipping major, SCCL added.

The company’s release was accompanied by an image of a car carrier painted in NYK Livery, called the Taurus Leader.

SSCL, a spin-off from Hai Sun Hup Group Ltd, reported good results for Q3 and nine months of 2015 financial year (FY).

The group’s ship-owning segment is expected to perform better with the delivery of two more vessels in Q4 of FY 2015.

SSCL acquired two pure truck car carriers with capacity for 5,415 cars in 2014, the M/V Capricornus Leader and  M/V Centaurus Leader.

 “The acquisition of three vessels in FY 2015 is quite a formidable feat and it has enabled the group to accelerate its fleet expansion program,” says Ow Yew Heng, SSCL’s Executive Director.