WFW: SCF Secures Financing for Primorsk Tanker Purchase

Russian shipping major Sovcomflot (SCF) has secured a loan in the amount of USD 125 million on August 22 to finance the recent purchase of nine arctic-going oil tankers from the transporter of bulk liquid cargoes Primorsk International Shipping Ltd. (Prisco).

The company bought the tankers through an auction procedure in late June for a total of USD 215 million.

The nine vessels in question are the Aframax tanker Zaliv Amerika, the LR2 tankers Zaliv Vostok, Zaliv Baikal, Zaliv Amurskiy, and the MR2 tankers Prisco Ekaterina, Prisco Alexandra, Prisco Elena, Prisco Elizaveta and Prisco Irina, according to data provided by VesselsValue.

Ranging from 50,000 dwt to 104,500 dwt, the double-hulled, ice-class tankers were constructed at South Korea’s yards Hyundai Heavy Industries and STX Offshore & Shipbuilding in 2008 and 2009.

Sovcomflot signed the financing agreement with Nordea Bank Norge ASA, according to international law firm Watson Farley & Williams (WFW), the adviser on the financing.

WFW added that the mandated lead arrangers are Nordea Bank Norge ASA, Citibank N.A., London Branch and DVB Bank SE, Amsterdam Branch.

World Maritime News Staff

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