Evangelos Marinakis-controlled Capital Tankers has continued to make progress on the financing of its fleet under construction.
The Greek shipowner has entered into new financing arrangements for 11 VLCC newbuildings under construction in China and South Korea.
Three 320,000-dwt, dual fuel LNG ready, scrubber-fitted VLCC tankers, Alterego II, Alexandros II and Apollonas II, with expected delivery in 2027 at Hanwha Ocean in South Korea, are being financed under an agreement on September 29.
The expected financing amount is $81.3m for each of the Alterego II and the Alexandros II, and $79.2m for the Apollonas II, repayable in 20 equal quarterly instalments of $1m, together with a balloon of $60.9m for each of the Alterego II and the Alexandros II, and $59.4m for the Apollonas II, due with the last instalment.
Capital Tankers has also arranged a new financing arrangement on October 9 for three VLCC tankers, namely the Amfitrion II, the Alexander the Great II, and the Anemos II (all 307,000-dwt, dual fuel LNG capable, with expected delivery in 2027 at Dalian Shipbuilding Industry Co. in China).
The expected financing amount is $90.9m for each of the Amfitrion II and the Alexander the Great II, and $89.6m for the Anemos II. Each financing is repayable in 40 quarterly instalments of $1.1m, with a balloon of $45.5m for each of the Amfitrion II and the Alexander the Great II, and $44.8m for the Anemos II, due together with the last instalment.
On October 10, the company entered into a new financing arrangement for two VLCC tankers, namely the Akadimos and the Amyntas II (both 307,000-dwt, dual fuel LNG capable, with expected delivery in 2027 and 2028 at DSIC in China). The expected financing amount is $89.6m per vessel, repayable in 40 quarterly instalments of $1.1m, and a $44.8m balloon payment due together with the last quarterly instalment.
Furthermore, the Greek shipowner entered on Oct. 12 into a new financing arrangement of $79.3m for each of three VLCC tankers, namely the Aspidoforos, the Armonikos and the Aftarkis (all 306,000-dwt scrubber-fitted, with expected delivery in 2027 at Hengli Shipbuilding (Dalian) in China). Each financing is repayable in 40 quarterly instalments of $1m, together with a balloon of $39.7m due with the last instalment.
Sale and leaseback arrangement for suezmax tanker newbuild
Separately, Capital Tankers has disclosed a partly financed sale and leaseback arrangement for its newly delivered 155,348-dwt, dual fuel LNG capable, scrubber-fitted Amor, built at New Times Shipbuilding in China.
This delivery brings the company’s fleet to 17 tankers comprising a total of one VLCC, eight suezmax, four aframax and four LR2 tankers. An additional ten vessels are expected to be delivered through 2027 and another six by mid-2028, resulting in a fully delivered fleet of 33 tankers.
The Amor was partly financed with a sale and leaseback arrangement of $64.5m, repayable in 28 quarterly instalments of $0.9m, and a balloon of $40m, due together with the last instalment in October 2033.
