Oslo-based NRP Maritime Asset Management AS (MAM) has provided debt financing for the acquisition of a 33,000-dwt handysize dry bulk vessel.
The premium maritime credit fund managed by MAM gave a bilateral senior secured facility of $6m to a “reputable European shipowner,” according to a post on LinkedIn.
The company didn’t disclose the name of the shipowner but reported that it’s a first-lien loan.
“Our Premium Maritime Credit Fund can proudly announce its latest debt financing – providing a USD 6.0m first-lien loan for the acquisition of this 33k dwt of a beauty to a reputable European shipowner,” NRP Maritime Asset Management, which manages the fund, said in the post.
“This move brings us to the newest addition to our credit fleet,” it added.
The fund distributed $55m over the last year, showcasing a combination of “robust portfolio performance and strategic divestments,” said MAM in another post in the social media.
Despite capitalizing on the strong market sentiment through sales, particularly from older part of the fleet, the premium maritime credit fund still maintains a fleet of 9 ships.
According to MAM, during the second half of 2022 and in 2023, the tanker market demonstrated market conditions not seen since the financial crisis and the fund has taken the opportunity to sell the older vessels in the portfolio.
“Sale candidates are assessed continuously for all segments, where the fund takes an opportunistic approach given the right price,” the investment maritime manager pointed out.
