Project Otto

active

 Founded in 1995, Bismark Maritime Limited (“BML”, “Bismark” or the “Company” - https://bismark.com.pg/), is the leading maritime and logistics services provider in Papua New Guinea (“PNG”). BML is one of two of PNG’s main inter-island/coastal shipping companies. BML owns and operates a fleet of 21 vessels, including five primarily multipurpose and container vessels, seven cargo landing crafts (LCT), three tugs and two barges (all locally flagged), as well as three local cargo port facilities (Lae, Rabaul, Alotau). Bismark’s fleet provides liner, project cargo transportation, charter and towing services, and operates 12 scheduled cabotage routes connecting 13 PNG’s domestic ports. The company’s port terminals provide stevedoring services to cabotage and international shipping operators. No international shipping or passenger services offered by the Company.The proposed project (the “Project”) involves the provision of an A Loan of up to US$20 million equivalent for the purchase of two multipurpose and container vessels.