DHT secures $50m for scrubber retrofits

DHT secures $50m for scrubber retrofits
Image courtesy of DHT

DHT Holdings has confirmed a US $50 million financing commitment for its scrubber retrofit project.

The crude oil tanker company is increasing its existing £330 million secured credit facility, which will be available immediately and will have quarterly repayments of $2.5 million commencing second quarter 2020.

This is in alignment with the implementation of the IMO’s global 0.5 per cent cap on sulphur emissions.

All seven banks in the existing facility, participated in the increased facility: Nordea, ABN Amro, Danish Ship Finance, DNB, ING, SEB and Swedbank.

The co-CEOs Svein Moxnes Harfjeld and Trygve P. Munthe said: “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.”