Scrubber Financing

Scorpio Tankers Gets Scrubber Financing

Scorpio Tankers Inc. (NYSE: STNG) announced its results for the three and six months ended June 30, 2019 and commitments received to partially finance the purchase and installation of scrubbers, reports MarineLog.

Lesser net loss 

Three months ended June 30

  • For the three months ended June 30, 2019, the company’s net loss was $29.7 million, or $0.62 basic and diluted loss per share. 
  • For the three months ended June 30, 2018, the company had a net loss of $68.9 million, or $2.23 basic and diluted...

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Scorpio Secures $41 Million To Finance Scrubbers

In a recent development, Scorpio Bulkers Inc. has announced that they have reached agreements with certain lenders to increase certain existing credit facilities by a total of $41 million, says a press release published on the NASDAQ website.

The credit facilities will be used to finance the installation of exhaust gas cleaning systems (“scrubbers”) on some of their vessels.

How will it be done?

The additional amounts will be drawn upon the installation of the scrubbers on the respective vessels,...

http://mfame.guru/scorpio-secures-41-million-to-finance-scrubbers/

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/