The Vessel was delivered from Hyundai Heavy Industries in South Korea and is the second (following delivery of NISSOS KEA on March 2022), Gas Ready (MEc), ECO-design, open loop scrubber-fitted 300,000 DWT VLCC crude tanker vessel that the Company acquired in the second half of 2021, pursuant to the press release disclosed on 29 June 2021.
The cash consideration for the Transaction was partly financed through proceeds of a new sale and lease back agreement with CMB Financial Leasing. The Facility is repaid quarterly, amortizes over a 20-year profile, matures in 7 years from drawdown and is attractively priced, in line with the Company’s other loan facilities. According to the agreement, the Company has a call option at each anniversary date.
