Okeanis Gets Funds for Scrubber Retrofit

The Piraeus-based shipping company Okeanis Eco Tankers Corp announced that it has secured commitment to a $11 million secured loan facility for its scrubber retrofit project from BNP Paribas.

The tankers company, owned by the Alafouzos family, said in a press release that the facility carries an interest rate over Libor of 2.00%, a 5-year tenor, and a 4-year repayment profile beginning one year after drawdown.

The  funds are available immediately, and the company expects to draw on it shortly to partly finance the capital expenditure required to retrofit scrubbers on six of its vessels (two Aframax/LR2s and four Suezmaxes).

In May 2019, the Greek shipping company had finalized a private placement, raising about $15 million, aimed for working capital and general corporate reasons.

Okeanis Eco Tankers owns a fleet of 15 modern ECO tankers including newbuildings.