Sovcomflot secures funds for LNG carrier duo

Sovcomflot secures funds for LNG carrier duo
Image courtesy of Sovcomflot

Russia’s largest shipping company Sovcomflot has secured $297 million ten-year credit facility with ING Bank, KfW IPEX-Bank and Crédit Agricole Corporate and Investment Bank to fund LNG carrier pair. 

The funds will be used towards pre- and post-delivery financing of two new-generation 174,000-cbm Atlanticmax LNG carriers, which will operate under long-term charters to Shell.

The vessels feature a slow-speed dual-fuel X-DF diesel engine and gas boil-off partial liquefaction system, Sovcomflot said in its statement.

The first of these vessels is scheduled for delivery in the second half of 2020, the other in the first half of 2021.

The addition of these vessels will increase the group’s liquefied gas carrier fleet to 16 vessels and is fully in line with the group’s strategy of expanding its long-term business with core clients.

This deal follows a similar $149 million credit facility signed in November 2018, between SCF Group and these three banks, to finance the construction of an LNG carrier, which will operate on long-term charter to Total.

Share this article

Follow LNG World News

Events>

<< Apr 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 1 2 3

Flame 2020

Flame is Europe’s largest and most influential meeting place for the global gas industry.

read more >

4th PNG Petroleum & Energy Summit

The CWC Group, in partnership with Kumul Petroleum Holdings Ltd.

read more >

FSRU World Congress 2020

FSRU World Congress 2020 will therefore focus on further Commercialising FSRUs through LNG-to-Power…

read more >

CWC World LNG & Gas Series: 12th Asia Pacific Summit

The 2020 Summit will offer an unrivaled programme covering relevant and significant discussion topics…

read more >