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Okeanis Eco Tankers seals charters for suezmax newbuild pair

Okeanis Eco Tankers (OET), the Oslo-listed Alafouzos family tanker vehicle, has sealed charters for two suezmax tankers set for delivery later this year from South Korea’s Hyundai Samho.

Nissos Sifnos and Nissos Sikinos, both set for delivery in September, have been entered into three-year time charter contracts with a national oil company. OET said the charters are expected to generate an EBITDA of $22.6m per vessel.

Additionally, OET has secured a $103.208m loan facility for the pair from Export-Import Bank of Korea, BNK Busan Bank and BNK Kyongnam Bank. The loan gives the vessels a daily cash breakeven rate of under $21,000 per day.

OET also recently secured refinancing for suezmax vessels Kimolos and Folegandros totalling around $81m.

When Nissos Sifnos and Nissos Sikinos deliver, OET will own a fleet of 11 tankers made up of four VLCCs, four suezmaxes and three aframaxes.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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