Chinese leasing finance for two suezmax newbuildings
Offshore Energy reports the conclusion of $92.5m financing for two suezmax tankers under construction at Hyundai Samho. The agreements with an undisclosed Chinese leasing company included pre- and post-delivery financing and seven-year terms. Deliveries were scheduled for April and May 2019.
The company could repurchase the vessels after the third anniversary of delivery and before the agreements expired. The ships were to enter three-year charters with an oil major at a reported $25,000 per day each. The report presents the arrangements as completing the financing of the suezmax portion of the company’s then-current newbuilding programme, while a separate vessel’s financing remained the next priority.
An editorial summary of the linked publication. Figures and plans refer to its publication date.