Sovcomflot bags funds for LNG-powered Aframax tankers

Sovcomflot bags funds for LNG-powered Aframax tankers
Image courtesy of Sovcomflot

Russia’s largest shipping company Sovcomflot secured $252 million for its series of liquefied natural gas (LNG)-powered Aframax tankers. 

The 7-year credit facility has been agreed with a consortium of six international banks including ABN Amro Bank, BNP Paribas, Citibank, ING Bank, KfW IPEX-Bank and Société Générale.

Sovcomflot added in its statement that the vessels are scheduled for delivery from the third quarter of 2018 through to the second quarter of 2019.

Each 114,000-deadweight tanker will have an ice class 1A hull, enabling safe year-round export operations from regions with challenging ice conditions, such as the Baltic.

Two vessels will work exclusively for Shell under time-charters for up to ten years, while Shell will also provide LNG fuel for all the six tankers in the series across North West Europe and the Baltic, Sovcomflot reminds.

Share this article

Follow LNG World News

Events>

<< Jan 2020 >>
MTWTFSS
30 31 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 31 1 2

LNG Pricing, Trading & Hedging: 3-Day Training Course – London / Mar 2020

This three-day training program provides a unique opportunity to learn and apply the practical skills…

read more >

American LNG Forum 2020

The American LNG Forum is your gateway to learning about the US LNG export industry,

read more >

2nd Global LNG Forum

Global LNG Forum is an exclusive networking and knowledge-sharing platform for top experts and business leaders in the industry.

read more >

LNG Pricing, Trading & Hedging: 3-Day Training Course – Houston / Feb 2020

This three-day training program provides a unique opportunity to learn and apply the practical skills, knowledge and tools needed to:…

read more >