Scrubber Finance

Tanker Owner Uses Norway’s Export Credit Agency for Scrubber Retrofits

A Bergen-based tanker owner is installing scrubbers on its entire fleet using financing from Norway’s export credit agency, reports Marine Propulsion.

What is it?

Inventor Chemical Tankers’ seven 19,000-gt chemical tankers qualify for export credit because they are deployed in foreign trade. Export Credit Norway and its guarantee agency GIEK will provide around US$10M in seven tranches, mirroring the retrofit equipment deliveries to take place over 2019.

How will it be done?
  • Financing is available...

http://mfame.guru/tanker-owner-uses-norways-export-credit-agency-for-scrubber-retrofits/

Genco Secures Additional Financing for Scrubber Installations


  • Genco Shipping & Trading Limited closed financing for scrubber installations on 17 of its Capesize vessels.
  • Amendment made to its USD 460 million credit facility to provide an added tranche of up to USD 35 million, that can cover up to 90% of the scrubber related expenses.
  • The company recorded a net income of USD 18.3 million in the 4th quarter of 2018, compared to an income of USD 2.5 million seen in the same quarter of 2017.
  • Net revenue totaled USD 75.6 million during the three-month period...

http://mfame.guru/genco-secures-additional-financing-for-scrubber-installations/

How Does Scrubbers Financing Work?

When it comes to complying to the new IMO regulations due to be effective from 2020, scrubbers installation is not the only challenge, the idea of securing the best possible financing solution is the primary concern where the devil lies in the details according to lawyers Watson Farley & Williams (WFW), writes Seatrade Maritime’s New York correspondent Barry Parker.

Lawyers Acknowledging the Uncertainties

A roundtable discussion at the firm’s New York offices on the “enforcement issues for...

http://mfame.guru/how-does-scrubbers-financing-work/