Sole Shipping Agrees Loan to Finance VLCC Duo

FinanceIllustration; Source: Pixabay under CC0 Creative Commons license

Investment firm Sole Shipping Group has secured a loan to finance two very large crude carriers (VLCCs), according to UK-based law firm Watson Farley & Williams.

The USD 91 million term loan facility went to a subsidiary of Sole Shipping Group. The loan would be used to finance the vessel duo and exhaust gas cleaning systems.

WFW informed that the ships will be bareboat chartered to Hong Kong-based Landbridge group, with the leases arranged by Pareto Securities.

The lenders were Crédit Agricole Corporate and Investment Bank and BNP Paribas.

Madeline Leong, WFW Hong Kong Maritime Partner and Office Head, said that the transaction represents “a trend towards more structured financings involving new players in the Asian maritime markets such as investment firms.”

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jul 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 31 1 2 3 4

World Gas Series: Morocco Summit

Bringing together key players in the gas value chain in Morocco, the World Gas Series:

read more >

GreenTech in Shipping USA Forum 2019

GreenTech in Shipping USA Forum is an event for Maritime leaders who want to unlock successful business formula of the industry!

read more >

Shipping Transformation Asia

Shipping Transformation Asia will provide a platform for future-focused discussion in the shipping,…

read more >

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >