Okeanis Eco Tankers announces financing for two Suezmax Newbuildings


Okeanis Eco Tankers Corp. (OAX: OET) on Thursday announced that it has secured commitment to a USD 45.9 million secured loan facility from Alpha Bank A.E. at highly attractive terms to finance 88.95% of the total pre-delivery yard instalments for its two ECO design, scrubber-fitted 158,000 DWT Suezmax tankers under construction at Hyundai Samho Heavy Industries delivering in August 2020.

The facility is available immediately, and the Company expects to draw on it shortly to finance 100% of the instalment due in November 2019. The Facility is repayable in full upon delivery of the newbuildings.

The Company is in advanced discussions with potential lenders in respect of post-delivery financing for its two Suezmax newbuildings and expects to conclude financing arrangements for these at industry leading terms within Q1 2020.

Sea News, November 1

Baibhav Mishra
Author: Baibhav Mishra