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Vessel Commitments

As at 31 December 2016, the Group had vessel commitments of US$119.1 million. These vessels are scheduled to deliver to the Group between January 2017 and May 2017.

These commitments, along with future potential vessel acquisitions, will be financed by a combination of cash generated by the Group’s operations, existing cash and committed long-term borrowings.

At 31 December 2016, the Group had options to purchase 11 Handysize, 3 Supramax and 1 Post-Panamax vessels at predetermined times and prices during the period of their leases. These options are not expected to be exercised under the current market conditions.

US$ Million Number 2017
Contracted and authorised commitments
Handysize 4 67.5
Supramax 3 51.6
7 119.1
Funding
Planned drawdown of committed Japanese export credit facilities 139.7

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