Marinakis’ Capital Tankers secures financing for 11 VLCC newbuildings

Evangelos Marinakis-controlled Capital Tankers has continued to make progress on the financing of its fleet under construction.

The Greek shipowner has entered into new financing arrangements for 11 VLCC newbuildings under construction in China and South Korea.

Three 320,000-dwt, dual fuel LNG ready, scrubber-fitted VLCC tankers, Alterego II, Alexandros II and Apollonas II, with expected delivery in 2027 at Hanwha Ocean in South Korea, are being financed under an agreement on September 29.

The expected financing amount is $81.3m for each of the Alterego II and the Alexandros II, and $79.2m for the Apollonas II, repayable in 20 equal quarterly instalments of $1m, together with a balloon of $60.9m for each of the Alterego II and the Alexandros II, and $59.4m for the Apollonas II, due with the last instalment.

Capital Tankers has also arranged a new financing arrangement on October 9 for three VLCC tankers, namely the Amfitrion II, the Alexander the Great II, and the Anemos II (all 307,000-dwt, dual fuel LNG capable, with expected delivery in 2027 at Dalian Shipbuilding Industry Co. in China).

The expected financing amount is $90.9m for each of the Amfitrion II and the Alexander