MANILA, Philippines - State-owned Development Bank of the Philippines (DBP) has granted an additional P130-million term loan to Oceanic Container Lines, Inc. (OCLI) to partially finance the acquisition of one container cargo vessel.
The loan assistance is in consonance with the bank’s efforts to improve the country’s primary transport infrastructure and logistics facilities, and support the efficient movement of basic commodities.
The loan will enable OCLI to improve its sailing services and keep up with the demands of the industry by enhancing the turnaround time of its freight transport and cargo services.
This is the fifth loan granted by DBP to OCLI, a family corporation established in 1998 that provides freight transport and cargo handling services. OCLI also offers a one-stop-shop concept of logistics services through its highly-integrated subsidiaries with services such as trucking, hauling, brokerage, equipment rental, container freight station, and container yard operations.
The project is in line with the Logistics Infrastructure Development Program (LIDP) of DBP as a specialized vessel (supply vessel) under the Bulk Chain Sector and the Medium Term Philippine Development Plan (MTDP).