Yang Ming secures Kaohsiung terminal funds

 The Yang Ming Group has secured $500 million in financing for a new container terminal in the Port of Kaohsiung, the Taiwanese ocean transportation company said Thursday.

   The financing will provide the lion's share of funds for the $550 million terminal, which is designed to have 2.8 million TEUs of annual capacity and will be able to accommodate the largest containerships in the world.

   The Mega International Commercial Bank and Taipei Fubon Commercial Bank are taking a lead in role in the lending along with co-arrangers First Commercial Bank, Taiwan Cooperative Bank, Land Bank of Taiwan, Taiwan Business Bank, and E. Sun Bank.

   The terminal is due to open in 2012. 

Source: American Shipper