Qatar Shipping, a wholly owned subsidiary of Milaha, previously known as Qatar Navigation, has secured a 12-year fixed-term ship
financing facility of QAR 1.55 billion (USD 425 million) with a consortium of the following banks: The Bank of Tokyo Mitsubishi UFJ Ltd., Mizuho Bank Ltd., Sumitomo Mitsui Banking Corporation Europe Ltd., Sumitomo Mitsui Trust Bank Ltd., Mitsubishi UFJ Trust and Banking Corporation, Shinsei Bank Ltd., Development Bank of Japan Inc. and Standard Chartered Bank.
Proceeds from the facility will be utilised by all four JV partners to refinance existing debt facilities on four LNG vessels. The four vessels are owned by JV companies, wholly-owned by vessel sponsors, Qatar Shipping Company, Mitsui OSK Lines, Nippon Yusen Kabushiki Kaisha and Kawasaki Kisen Kaisha – all chartered to Ras Laffan Liquefied Natural Gas Company in Qatar on a long-time charter basis.