The proposed project provides a long-term term loan to finance part of the acquisition/construction costs of 5 dry cargo newbuildings of about 5,000 dwt. The proposed project is part of the company’s fleet expansion programme.
The Bank’s involvement in the project will help to facilitate the modernisation and development of the company, which has committed to improve its shipping management practices to bring its operation in line with international best practice. The proposed project is also expected to enhance safety and environmental standards of the fleet, as well as promoting competition through fleet renewal among other local ship-owners operating in this sector.
Joint Stock Company Yugreftransflot is a Sevastopol-based ship owner whose primary activities are:
transportation of refrigerated cargos: deep frozen meat, poultry and fish , perishable goods (fruits and vegetables), general cargos and containers;
fleet commercial & technical management: reefer vessels, ocean-going fishing trawlers, dry cargo vessels, and tankers;
- commercial fishing and processing of fish products.
A senior loan of up to USD 26 million, to be structured as an A/B loan.
USD 57 million.
The project was screened C/1.
Yugreftransflot will need to demonstrate to the Bank pre-acquisition safety and environmental compliance of the Project Vessels, with international maritime safety standards and conventions. The Bank will seek agreement with Yugreftransflot and covenant in the loan agreement of establishing relevant on-shore environmental health and safety and environmental procedures and emergency response plan.
5 Rybakov Street
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