Okeanis Announces Delivery of VLCC Newbuilding

Okeanis

Okeanis Eco Tankers Corp. announced that it has taken delivery of the VLCC NISSOS KEA.

The Vessel was delivered from Hyundai Heavy Industries in South Korea and is the first of two under construction, Gas Ready (MEc), ECO-design, open loop scrubber-fitted 300,000 DWT VLCC crude tanker vessels 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 financed through proceeds of a new sale and lease back agreement with CMB Financial Leasing Co., Ltd. (“CMBFL”), with a gross finance amount of approximately $145.5m. The Facility is repaid quarterly, amortizes over a 20-year profile, matures in 7 years from drawdown and is priced at extremely competitive terms.

According to the agreement, the Company has a call option at each anniversary date.

OET has already drawn $72.75m from the Facility as it relates to the delivery of the Vessel.

The Company expects to take delivery of the second vessel NISSOS NIKOURIA at the end of May 2022 when it will also draw the second tranche of the Facility.

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