DHT Holdings secures $50m financing for scrubber retrofit

DHT Holdings secures $50m financing for scrubber retrofit

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.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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