BW Offshore secures $80m credit facility

BW Offshore secures $80m credit facility

Oslo: BW Offshore has signed facility documentation for a new $80m senior secured credit facility for the FPSO Petroleo Nautipa. The loan has a tenor of 7.5 years and will be used for general corporate purposes, the company said in a release.

BW took 100% ownership of the FPSO last year from Malaysia’s Yinson Holdings. The vessel is currently operating for Vaalco Energy in Gabon under a firm charter contract until September 2020, with options for an additional two years.

Hans Thaulow

Hans Henrik Thaulow is an Oslo-based journalist who has been covering the shipping industry for the last 15 years. As well as some work for the Informa Group, Hans was the China correspondent for TradeWinds. He also contributes to Maritime CEO magazine. Hans’ shipping background extends to working as a shipbroker trainee with Simpson, Spence & Young in Hong Kong.

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