U-Ming secures JBIC and Citi co-financing

Taiwan Stock Exchange-listed shipping operator U-Ming Marine Transport has secured buyer credit agreements for the purchase of three 84,000DWT class bulk carriers from Sumitomo Corporation.

The total value of the deal is approximately $81.1 million, equally split between JBIC and Citibank Japan. Nippon Export and Investment Insurance (Nexi) is providing buyer credit insurance for the Citi portion.

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