OCTOBER 29, 2018 — Okeanis Eco Tankers Corp. has secured firm commitments for two secured loan facilities for an aggregate amount of $116.3 million from Credit Suisse AG and BNP Paribas in respect of the financing of two of its VLCC newbuildings, hull 3051 (Credit Suisse – $58.125 million) and hull 3089 (BNP Paribas – $58.175 million), under construction at shipbuilder Hyundai Heavy Industries. The facilities each carry an interest rate over Libor of less than 2.5%, a 6-year tenor, a blended average repayment profile of 17.5-years, and allow for drawdowns to finance pre-delivery yard instalments.
Established earlier this year by the Alafouzos family, Okeanis Eco Tankers has a fleet of six tankers built 2015 to 2018 and nine vessels for delivery 2018 to 2019. It describes itself as a “pure play eco and scrubber-fitted tanker company” which it believes will be a strong distinguishing factor going forward, in particular under the new IMO 2020 sulfur cap regulations.
It says the commitments announced today mark the successful conclusion of the first step in its efforts to secure competitive financing for its last four VLCC newbuildings. The company is in advanced discussions with potential lenders in respect of its two remaining unfinanced VLCC newbuildings.