Fal Oil Signs Loan for Two Tankers

Wednesday, June 06, 2007
Sharjah-based Fal Oil Company recently signed a $102 million agreement with Citi for the financing of two Aframax tankers of 105,000 dwt capacity being built by Korean shipyard Hyundai Heavy Industries, says www.gulfnews.com The 15-year term loan facility covers 80 percent of the cost of the two tankers and will provide Fal Oil with three-years' pre-delivery and 12-years' post-delivery financing. The $102 million facility by Citi comes on the heels of a six-year $39 million term loan arranged by the bank for Fal Oil in April towards the financing of two tankers.
Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Hyundai Heavy Plummets to Worse Loss Ever

South Korea's Hyundai Heavy Industries Co Ltd, the world's biggest shipbuilder, slid to a record quarterly loss of $1.8 billion and warned it's heading for its

Maersk Interceptor Named in Norway

In a ceremony held at GMC Marine Partners yard in Mekjarvik in Norway, Mrs. Anita Utseth, Senior Vice President in Det norske oljeselskab ASA (Det norske) had

Fincantieri & Vittoria Shipyard Join Forces

During the 24th edition of Euronaval, the most prestigious event in the world for naval defense, Fincantieri, one of the major shipbuilding groups worldwide, and Vittoria Shipyard,

Tanker Trends

Iran Gas Exports to Europe Would Take at Least 5 Years

Iran would take at least five years to start exporting natural gas to the European Union if sanctions were removed, industry experts said on Wednesday. Last month,

CSC Launches Gas Storage Integrity Management Team

UK-based Chesterfield Special Cylinders (CSC) has launched a new integrity management team to work with owners and operators of high pressure gas storage vessels as installed in rigs and ships,

China Aviation Oil Seeks Jet Fuel for Nov-Dec

China Aviation Oil (Singapore) is seeking up to 2.056 million barrels of jet fuel for loading over November to December, a tender document showed on Wednesday.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Repair Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.0933 sec (11 req/sec)