News: Thailand-based shipping company Regional Container Lines (RCL) has obtained a loan worth THB300mn (US$9.7mn) from Ngow Hock Company, a major shareholding with 25.2% holding in RCL. The received funds will be utilised in the form of working capital in order to support the business operation, according to RCL. Meanwhile, RCL has stated that no condition on collateral will negatively impact the company. An interest rate of 4.75% per annum over a one-year tenor will be charged on the offered loan.
RCL was founded in 1979, initially acting as a feeder operator between Bangkok and the major transhipment hub of Singapore. RCL now operates its feeder and container line services between many destinations in Asia and beyond. The company has been listed on the Bangkok Stock Exchange since 1988. The company connects more than 70 destinations throughout Asia, the Middle East and Australia. RCL has a fleet of 42 container vessels.