Finance and InsuranceTankers

Advantage Tankers secures financing for two suezmaxes

CIT Maritime Finance, part of the NYSE-listed US financial holdings company CIT Group, has helped Advantage Tankers to add two Suezmax tankers to its growing fleet.

The deal, arranged through CIT Bank, saw $61 million provided to the Geneva, Switzerland-headquartered Advantage, a big player in the global oil tanker shipping industry, with a fleet of 11 crude carriers – five Aframaxes and six Suezmaxes – before this deal.

The $61 million will be used to secure a senior credit facility.

Marshall Islands-listed Advantage is anticipating increased charter rates in the crude oil tanker market and has earmarked the two Suezmax tankers for long-term charters delivering crude oil to a multinational oil company.

Advantage Tankers is owned by majority shareholder Mrs Nazli Karamehmet Williams and management.

Donal Scully

With 28 years experience writing and editing for newspapers in the UK and Hong Kong, Donal is now based in California from where he covers the Americas for Splash as well as ensuring the site is loaded through the Western Hemisphere timezone.
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