BTMU Supports Trada Maritime

Trada Maritime has successfully secured USD 35 million from Bank of Tokyo-Mitsubishi (“BTMU”) for the acquisition of new vessels this year. The Indonesian shipowner hopes to secure additional loans from another foreign bank and two Indonesian banks for more ship acquisitions. Local media reports also suggest that the company is planning to issue bonds worth 1.5 trillion rupiah (USD 150 million) next year for capex needs and has an ambitious plan to spend USD 315 million to purchase vessels over the next five years. Last September, Trada made its debut on the Indonesia Stock Exchange and raised Rp 500 billion (USD 54 million). The management’s ability to execute its expansion plan in today’s economic downturn will soon be put to the test.

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