Russia’s Sovcomflot inks $149m loan for LNG carrier

Image courtesy of Sovcomflot

Russian shipping company Sovcomflot has signed a $149 million credit facility to finance the construction of a 174,000-cbm Atlanticmax LNG carrier.

The credit facility, for up to 10 years, has been agreed with a consortium of three international banks, comprising ING Bank, KfW IPEX-Bank and Crédit Agricole Corporate and Investment Bank, Sovconflot said on Wednesday.

The vessel will feature a slow-speed tri-fuel X-DF diesel engine and gas boil-off partial liquefaction system.

The LNG carrier will operate on long-term charters with France’s Total.

“The project facility benefits from a limited-recourse structure and a favourable long-term tenor, as well as competitive pricing, reflecting the robustness and the high credit quality of the deal structure, underpinned by the stability of the charter hire revenue stream and cash flows,” the statement said.

This is the fifth international debt financing for Sovcomflot this year.

Share this article

Follow LNG World News

Posted on November 15, 2018 with tags .

Events>

<< Apr 2019 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 1 2 3 4 5

Downstream 2019

Renowned as the most significant global meeting place for Downstream professionals…

read more >

Central and Eastern Europe SSLNG Forum

SSLNG projects are important for Central and Eastern Europe (CEE) because they offer opportunities for solving issues…

read more >

Klaipeda LNG Forum 2019

Klaipėda LNG forum 2019 organised by Klaipėda Science and Technology Park, Klaipėdos nafta and Embassy of the Netherlands will take place on the 15-16 May at Klaipėda Castle’s site hall, Lithuania.

read more >

Flame 2019

Flame is Europe’s largest gathering of midstream gas & LNG players, bringing together everyone who matters – from producers to utilities, purchasers, infrastructure providers, traders, regulators and policy makers.

 

More info

read more >