Gulf Navigation completes repayment of a $2.7 million loan for one of its ships

Dubai, on September 4, The Gulf Navigation Holding Group PJSC, listed on the Dubai Financial Market, announced the completion of the full repayment of the loan of one of its ships.

The value of the loan financed by Rasmala was about $2.7 million, at an interest rate of 12%; Thus, after the mortgage has been released, the income of this vessel will return to the company without any deductions, which enhances the company’s profitability and cash liquidity during the next short period.