Ing Bank Nv News

Swedbank has signed the Poseidon Principles, a global framework for integrating climate considerations into lending decisions within ship financeThe Poseidon Principles provide a standardised methodology for data collection and reporting of emissions from banks’ shipping portfolios, with the overall ambition of supporting and facilitating the decarbonization of the shipping industry.The Poseidon Principles are consistent with the policies and ambitions of the IMO, including its…

PAO Sovcomflot (SCF Group) signed a $110 million credit facility, for 10 years, with ING BANK N.V., SMBC BANK EU AG and UNICREDIT BANK AG, to finance two new ice-class shuttle tankers.The ships, scheduled to be delivered in Q1 2022, will serve the Sakhalin-1 project (oil and gas development in the Sea of Okhotsk, on the north-eastern shelf of Sakhalin Island, Russia. Exxon Neftegas Ltd. (an affiliate of Exxon Mobil) is the project’s operator and acts as the charterer for the vessels.

Sovcomflot concludes USD 149 million project credit facility for up to 10 years with three leading European banks.Sovcomflot (SCF Group) is pleased to announce that it has signed a new USD 149 million credit facility, for up to 10 years, with a consortium of three leading international banks, comprising: ING Bank N.V.; KfW IPEX-Bank GmbH, and Crédit Agricole Corporate and Investment Bank.The funds will be used towards financing the construction of a new generation 174,000-cubic metres Atlanticmax LNG carrier.

With a net profit of USD 0.8 million, Scorpio Bulkers shows positive results in the second quarter of 2018 compared to a net loss was USD 13.4 million for the the same period in 2017.Total vessel revenues for the second quarter of 2018 were $60.6 million, compared to $37.7 million for the same period in 2017.The shipping company, which owns and operates dry bulk carriers, took delivery of the SBI Lynx, a Kamsarmax vessel, from Jiangsu Yangzijiang Shipbuilding  last month.During the second quarter of 2018, the Company drew down the entire $12.8 million available to it under the $12.8 Million Credit Facility, for which the SBI Lynx serves as collateral.In June 2018, the Company received a commitment for a loan facility of up to $30.0 million from ING Bank N.V.

Capital Product Partners L.P. has announced that it has completed the previously announced acquisition of the M/T Anikitos, an eco-type MR product tanker (50,082 dwt IMO II/III Chemical Product Tanker built 2016, Samsung Heavy Industries (Ningbo) Co., Ltd.) for a total consideration of $31.5 million from Capital Maritime & Trading Corp.The Partnership funded the acquisition of the M/T Anikitos with the net proceeds received from the sale of the M/T Aristotelis, available cash and the assumption of a term loan under a credit facility with ING Bank NV of approximately $15.6 million. The term loan is non-amortizing for a period of two years from the anniversary of the dropdown with an expected final maturity date in June 2023 and bears interest at LIBOR plus a margin of 2.50%.

Scorpio Tankers announced that, following from the announcement of new financing initiatives on April 25, 2018, the Company has received commitments from four leading European financial institutions for three separate loan facilities of up to $195.9 million in aggregate. It will raise $53.9 million of new liquidity in aggregate after the repayment of $142.0 million of existing secured debt. The Company expects to make announcements for further individual transactions in the coming weeks. The Company has received a commitment from ABN AMRO Bank N.V. and Skandinaviska Enskilda Banken AB for a loan facility of up to $120.6 million. The loan facility will be used to finance up to 65% of the fair market value of one Handymax product tanker, one MR product tanker and three LR2 product tankers.

Capital Product Partners has announced that its Board of Directors has approved the acquisition of the eco-type crude tanker ‘Aristaios' (112,800 dwt, Ice Class 1C, built 2017, Daehan Shipbuilding, S. Korea) for a total consideration of $52.5 million from the Partnership's sponsor, Capital Maritime & Trading. The M/T ‘Aristaios' is currently employed under a time charter to Tesoro Far East Maritime Company (‘Tesoro') at a gross daily rate of $26,400. The Tesoro charter commenced in January 2017 with duration of five years +/- 45 days. The Partnership intends to fund the acquisition through available cash in the amount of $24.2 million…

On October 26, 2015 in the presence of President Xi Jinping and King Willem-Alexander of the Netherlands, ING Bank NV and The Export-Import Bank of China signed a three year Memorandum of Understanding (MOU). The objective of the MOU is to further strengthen the cooperation between the two parties in the financing of Chinese built ships, both new and second hand, as well as selected offshore projects for a total amount of $1 billion, ING said. Stephen Fewster, Global Head of Shipping Finance ING Bank said, “We are very pleased with this next step in building a deeper relationship with The Eximbank of China. China is one of the leading nations in the shipbuilding industry and many of our clients own Chinese built ships.

Press release - Scorpio Tankers announced an agreement to sell STI Highlander, newbuilding vessel deliveries, and the upsizing of a previously announced credit facility. The company reached an agreement to sell its 2007-built Handymax product tanker, STI Highlander, for approximately $19.35 million. The sale of this vessel is expected to close in October 2015. There will be no debt repayment associated with this sale as this vessel is not collateralized under any of the company's credit facilities. Subsequent to the sale of STI Highlander, all of the company's owned fleet will have been built in 2012 or later. STI Carnaby, an LR2 product tanker, was delivered from Sungdong Shipbuilding & Marine Engineering Co., Ltd.

The Executive Committee of Euronav NV today announced that it has signed a new USD 750 million senior secured amortizing revolving credit facility led by DNB Bank ASA and Nordea Bank Norge ASA acting as Coordinators, Mandated Lead Arrangers and Bookrunners and ABN AMRO Bank NV, ING Bank NV and Skandinaviska Enskilda Banken AB (publ) (SEB) acting as Mandated Lead Arrangers and Bookrunners and Crédit Agricole Corporate and Investment Bank acting as Lead Arranger whilst KBC Bank NV, Scotiabank Europe plc and Société Générale acting as Co-Arrangers. The additional lenders are Belfius Bank SA/NV and HSBC Bank plc. Nordea is also the facility agent.

Watson, Farley & Williams (WFW) has advised ING Bank N.V. (ING) as sole bookrunner and facility agent for a syndicate of banks on a $340 million loan facility made available to Euronav NV. The facility is comprised of a $192m term loan facility and a revolving credit facility of up to $148m. Euronav plans to use the funds to refinance four Suezmax tanker vessels, finance the acquisition of four very large crude carrier tankers from Maersk and for general corporate purposes. The ships financed under the facility are registered on Belgian, Greek and French flags.

The executive committee of Euronav NV announced that it has signed a new $340 million senior secured credit facility led by ING Bank NV acting as sole Bookrunner and together with Citibank NA, Danish Ship Finance A/S, DnB Bank ASA and KBC Bank NV acting as Mandated Lead Arrangers whilst Belfius Bank NV, BNP Paribas Fortis NV, Deutsche bank AG and ITF International Transport Finance Suisse AG are acting as Lead Arrangers. ING is also the facility agent. The credit facility comprises of (i) a $192 million term loan facility and (ii) up to $148 million non-amortising revolving credit facility. The facility will be available as from today for the purpose of (i) refinancing four Suezmax vessels: the Cap Felix (2008 – 158…

Gazprom and Sovcomflot named the new state-of-the-art 170,000m³ liquefied natural gas carrier (LNGC) Pskov, after one of the oldest Russian cities. The ship will be chartered to Gazprom Global LNG (GGLNG) under a long-term contract. The LNGC Pskov is the second vessel in a series of high-specification, ice class Atlanticmax LNG carriers that have been specially designed in accordance with Gazprom’s requirements, and will support Gazprom’s global commercial operations in the gas markets. The first LNGC, Velikiy Novgorod, was delivered and entered service in January of this year. The naming ceremony took place at the STX shipyard, South Korea.

OW Bunker, a reseller and physical distributor of marine fuel, has signed a $700 million revolving credit facility, refinancing its current $450 million facility. The new facility consisting of two tranches, a 364-day and a three-year multicurrency revolving credit facility, was more than 100% oversubscribed by the in total 13 international banks and financial institutions in a syndicate led by ING Bank N.V. OW Bunker sees the over-subscription and the up to three-year commitment as a strong sign of confidence in its business model, including a strong balance sheet consisting primarily of relatively liquid current assets, with 70-75% of accounts receivables typically insured, and a liquid inventory of fuel and gas oil.

CP Ships Limited has closed on a five-year $525 million secured multicurrency revolving credit facility. and one for $350 million completed in March 2002. general corporate purposes including capital expenditure and acquisitions. Pricing is linked to credit ratings. 0.44% payable on the undrawn portion. the facility, the applicable margin will increase by 0.15%. mandated lead arrangers. banks with extensive experience of lending to the shipping industry.

Sovcomflot Group and German bank HSH Nordbank AG have signed a Loan Agreement of $434m. HSH Nordbank is mandated lead arranger and is providing senior debt for the transaction. The signing ceremony attended by Sergey Frank, President and CEO of Sovcomflot and Hans Berger, Deputy Chairman of the Board of Managing Directors of HSH Nordbank, took place in Hamburg. The purpose of the Loan Facility with final maturity date in 2021 is to provide the financing of six vessels, i.e. three unique Arctic tankers to be deployed for long-term operation in Barents Sea, as well as three product-carriers. ING Bank N.V. has been working as structuring bank and financial advisor for Sovcomflot under above Loan Facility. Norddeutsche Landesbank Girozentrale is participating in the transaction as co-lender.