Tanker owner Hafnia, part of the BW Group, has signed a sustainability-linked credit facility.
The loan facility, as the shipowner reveals, will mature in early 2029 and with commitments of up to $303 million, was established in partnership with a syndicate of eight banks.
The syndicate includes BNP Paribas, Citibank, Danske Bank, DBS Bank, IYO Bank, Nordea Bank, Oversea-Chinese Banking Corporation (OCBC Bank), and Standard Chartered Bank, all of which acted as mandated lead arrangers.
BNP Paribas served as the facility coordinator, DBS Bank as the sustainability coordinator, and Nordea assumed the role of the loan facility agent.
The deal has been secured by a fleet of nine chemical tankers, and has an annual sustainability margin adjustment mechanism, with DNV providing the second party opinion on key performance indicator such as emissions-related and relative share of chemical cargoes carried.
Hafnia said this is a “significant achievement,” particularly in the context of its acquisition of chemical tankers last year.
Furthermore, the shipowner added that by securing this loan facility, Hafnia “not only reduces its funding costs but also enhances its financial flexibility.”
“We appreciate the continued support from our banks and managed to achieve a very competitive pricing and financing structure. Through this Loan Facility, we will be cooperating in our efforts towards the decarbonisation of the shipping sector. This facility reinforces Hafnia’s ability to access highly competitive funding sources and aligns our financing with our path to decarbonising shipping,” noted Hafnia’s chief of finance Perry van Echtelt.
With offices in Singapore, Copenhagen, Houston, and Dubai Hafnia is a tanker owner, transporting oil, oil products and chemicals for major national and international oil and chemical companies, whilst in its portfolio has a fleet of 118 owned ships and 214 in total.
