rss icon Subscribe
desktop mobile

NAT Secures Financing for Suezmax Newbuilds

© koornneef / MarineTraffic.com

MarineLink

Nordic American Tankers (NAT) told investors on Friday that it has lined up full financing for two new tankers on order from South Korea's Samsung Heavy Industries. The newbuilds are the first to be ordered by NAT since 2016.

The shipowner said it entered into a financing agreement with a subsidiary of Ocean Yield ASA for the Suezmax pair, which are due for delivery in the first half of 2022.

"It is an advantage to secure the long term financing for these two newbuildings at an early stage and with an existing lender," NAT said, adding it aims to become a debt free company.

The financing is for up to 80% of the newbuilding price, and the agreements are based on a 10-year bareboat charter for each vessel. NAT said it has certain options to buy or sell the vessels during the charter period.

The two new tankers will grow NAT's Suezmax fleet to 25 vessels.

Oct 16, 2020

 

Shipbuilding

Interview: Tim Leach, Glosten, Discusses Efficient Refit by Design

RV Roger Revelle in drydock. Image courtesy Glosten

From 3D laser scanning to Computational Fluid Dynamics, an efficient and successful major mid-life

DNV GL Awards AIP to KSOE for Wing Sail Propulsion

Rendering of the VLCC with the wings sails in place (Image: KSOE)

Classification society DNV GL said it has granted Approval in Principle (AIP) to Korea

Ship Repair: Inside the $60m Refit of RV Roger Revelle

The R/V Roger Revelle pictured at sea for a 10-day commissioning and calibration cruise following its midlife refit. Photo Copyright: Scripps Institution of Oceanography

This month MR dives inside the $60 million refit of RV Roger Revelle, a project which leverages a

Tankers

Sovcomflot, Total Ink Timecharter Deal on LNG Transport

Igor Tonkovidov, President and CEO of PAO Sovcomflot at the signing. Photo courtesy Sovcomflot.

PAO Sovcomflot (SCF Group) and Total have concluded a time charter agreement for up to seven years

US Blacklists Tankers, Oil Traders Undermining Venezuela Sanctions

© Yevgeniy B. / MarineTraffic.com

The United States on Tuesday sanctioned a network of oil trading firms, individuals and vessels

GTT Wins LNG Carrier Tank Design Order from Samsung

French engineering firm GTT said it has received an order from the Korean shipyard Samsung Heavy Industries (SHI) for the tank design of a new 174,000-cubic-meter-capacity

Maritime Apps