Aker American Shipping SecuresFinancing for Tankers

Tuesday, February 13, 2007
Senior secured credit facility of $770m with Fortis closed at delivery of first tanker Aker American Shipping has, concurrently with the delivery of the first Product Tanker, closed a senior secured credit facility of $770m with Fortis as Agent, financing its long term ownership of the first 10 vessels. The facility secures permanent financing for the first 10 product tankers and provides for an advance of $80m per vessel. The facility refinances the $350m facility currently in place for the first five product tankers that provided for an advance of $70m per vessel. AKASA has also entered into interest rate swaps, which secure the interest rate of the new credit facility.
Maritime Reporter September 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Cruise Ship Trends

Radio Holland Revamps Cruise Ship Bridge

Holland America Line’s cruise ship MS Noordam recently underwent a 10-day dry-dock period, during which it was fit with a customized bridge from Radio Holland. The

Saga Cruises Orders New Ships

Saga Cruises has placed an order for a new cruise ship to be built by Meyer Werft in Germany with the delivery date of Summer 2019.    The deal comes with an

US Coast Guard Medevacs Cruise Ship Passenger

A 68-year-old man who reportedly suffered a seizure was medevaced from a cruise ship 180 miles off of Southwest Pass, La., Sunday, the U.S. Coast Guard said.   Watchstanders

Tanker Trends

Odfjell's Tanker Overhaul Seeks to Slash Emissions by 20%

Norwegian tanker shipper Odfjell announced it is upgrading the propulsion systems aboard 19 of its chemical tanker vessels in a move that aims to reduce its fuel

New Risks Moving Crude Oil by Rail

The rapidly changing landscape of crude oil exploration and drilling in the US and Canada, together with economic considerations, logistical issues related to pipeline transport,

More Democrats Needed to Repeal Crude Export Ban

Lawmakers who want to ditch the 40-year-old U.S. ban on exporting oil will likely enjoy a victory on Thursday in the Senate banking committee - but they are struggling

Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1755 sec (6 req/sec)