Forum Line granted loan
PA Auckland The South Pacific Forum Line has been granted a $6 million European Investment Bank loan it needs to recapitalise the line. The South Pacific Bureau for Economic Co-operation said it had negotiated the loan, which would be distributed to Pacific island nations with a share in the line. Those nations would use the capital to buy containers for the line.
Leasing of equipment, particularly containers, costs the line about $6 million a year out of its annual cash flow of about $3O million.
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Press, 25 November 1982, Page 7
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89Forum Line granted loan Press, 25 November 1982, Page 7
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