PRISCO will get $375 million credit for construction of tankers, the company reports. The credit will be given by a syndicate of 12 foreign banks including both the company’s permanent partners and financial institutions, which cooperate with PRISCO for the first time.
The loan is to be used for financing of ice-class tankers within the framework of the company’s fleet modernization program. The program provisions construction of 15 new tankers by 2009, which is to double the company’s deadweight. New vessels are to be deployed for implementation of long-term contracts on export of Russian crude and oil products.
JSC Primorsk Shipping Corporation PRISCO is a specialized tanker company engaged in sea transportation of liquid bulk cargo all around the world. The Corporation operates 21 tankers with their aggregate deadweight of 859,000 tons. Ice class vessels including large-capacity ones equipped for operation in freezing seas conditions make up the core of the сompany’s fleet. The Primorsk Shipping Corporation’s activities include commercial and technical management, agency services and training qualified specialists in sea transport and gas-and-oil producing industry.