BCA Bank Credit ProposalIntroductionBorrower /Group : Glyfada Shipping Group : possessor : Captain Jack PavlosAmount 35mPurpose : Financing of the newly delivered supramax bulker m /b Aegean WindType : Commercial /Collateral or Additional capitulum RequiredRepayment of Loan : 10 yrs (semiannual ) 20 x 1 .75 10 .5m balloonShipping Background InformationHistory of CompanyCaptain Jack Pavlos is 70 long time old . He has a shipping experience of more than 40 years . Mr . Pavlos is the owner of Glyfada Shipping Group He has two sons at the date of 30 and 34 , who are both actively involved in the family business for the past 5 yearsThe pass away currently comprises 3 vessels , 2 modern handymaxes and an elderly debt light capsize bulker . The combined fleet value is US 73m against loans of US 40m , representing a moderate fleet gearing of c .55 The averge age of the fleet is 22 years .
The grup s pllicy is to time charter the vessels in short to medium T /C s . Recently the goup exchange m /v TINA , a 1984-built debt free panamax bulker of 65k dwt for US 15m in to pay the yard installments for group s newbuilding vessel Character of Principals : ExcellentCapacity of prudence : ExcellentMiscellaneous InformationMr . Pavlos has already paid US 20m towards the purchase of this vessel He has an excellent payment archives and financial success history in this business . Gross income for the company is US 1 .8615b Net Income after expenses is US 1...If you want to get a full essay, order it on our website:
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