The South Korean shipping company STX Pan Ocean said today it has secured a syndicated line of credit worth 510 million dollars that was given to nine banks. The loan will be used to partially finance the construction of 20 ships for the transport of pulp to be used within a contract worth five billion dollars and lasting 25 years signed with Brazil for the export of fiber South American production company ( of 19 October 2010).
STX Pan Ocean said that the funding will cover 70% of total expenditure, ie 16 of the 20 ships, and that the funds for the construction of the remaining four ships will be found later and gradually.
The consortium of banks that granted the loan of 510 million dollars is made up of the Korea Export-Import Bank of Korea, China Development Bank Corp., ABN Amro Bank, DnB NOR Bank, Deutsche Schiffsbank, BNP Paribas, ING Bank, Standard Chartered Bank and Credit Industriel et Commerciel.
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The South Korean shipping company STX Pan Ocean said today it has secured a syndicated line of credit worth 510 million dollars that was given to nine banks. The loan will be used to partially finance the construction of 20 ships for the transport of pulp to be used within a contract worth five billion dollars and lasting 25 years signed with Brazil for the export of fiber South American production company 
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
