Bermuda tanker operator DHT Holdings has secured $50m financing for its scrubber retrofit project.
The financing is structured through an increase of the existing $300m credit facility secured by the company in the second quarter of 2017. The increased facility is available immediately and will have quarterly repayments of $2.5m commencing second quarter 2020, aligned with the implementation of 2020 IMO regulations and expected economic benefits.
All seven banks in the existing facility Nordea, ABN Amro, Danish Ship Finance, DNB, ING, SEB and Swedbank, have participated in the increased facility.
“We are very pleased with the solid support from our banking universe in financing this attractive investment for DHT. We have obtained competitive terms with a structure tailored to the execution of the project,” said DHT’s co-CEOs Svein Moxnes Harfjeld and Trygve Munthe.
In July, DHT entered into agreements with Alfa Laval to install scrubbers on twelve of its VLCCs.