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DHT Holdings scrubber retrofit project gets $50 million funding

27 Sep 2018

New York-listed independent crude oil tanker company DHT Holdings has secured commitment to a $50 million financing on an earlier publicised scrubber retrofit project, subject to final documentation.

The financing is structured through an increase of the existing $300 million secured credit facility DHT entered into in the second quarter of 2017.

It is available immediately and will have quarterly repayments of $2.5 million commencing second quarter 2020, aligned with the implementation of IMO2020 and expected economic benefits.

All seven banks in the existing facility, participated in the increased facility: Nordea, ABN Amro, Danish Ship Finance, DNB, ING, SEB and Swedbank. 

“We are very pleased with the solid support from our banking universe in financing this attractive investment for DHT,” says co-CEOs Svein Moxnes Harfjeld and Trygve P. Munthe.

“We have obtained competitive terms with a structure tailored to the execution of the project.”

Related: DHT Holdings expects ‘super-profit’ from scrubber-equipped VLCCs
RelatedDHT Holdings: Scrubbers not ‘long-term solution’

Photo credit: EGCSA
Published: 27 September, 2018

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