Stephenson Harwood (Singapore) Alliance has advised KfW IPEX-Bank GmbH and Bank SinoPac Company Limited on two separate financings for subsidiaries of Precious Shipping Public Company Limited (Precious Shipping), amounting to a total of $102 million.
The senior secured loans support the acquisition of four vessels by the wholly owned Singapore subsidiaries of Precious Shipping, the leading Thailand-based dry bulk shipping company, with a significant presence in the Asian maritime sector.
KfW IPEX-Bank GmbH's $50 million loan will finance the pre-delivery and post-delivery acquisition costs of two 63,500 DWT bulk carriers previously ordered by the company and currently under construction by Taizhou Sanfu Ship Engineering Co., Ltd. in China, which are scheduled for delivery in 2026.
Bank SinoPac Company Limited's $52 million loan had financed part of the purchase price for two newbuilding resale 66,000 DWT bulk carriers, constructed by Jiangsu Yangzi-Mitsui Shipbuilding Co., Ltd. in China, which were successfully delivered in January 2026.
The transaction supports Precious Shipping group’s fleet expansion and highlights the continued strength of the shipping finance market in Asia.
The Stephenson Harwood (Singapore) Alliance team was led by Partner Huay Yee Kwan, with support from Associate Su Hean Loh. Further Singapore law advice was provided by Virtus Law Partner Jason Yang, who was supported by Senior Paralegal Sylvia Lisa.
