Vista Shipping secures $89.6 million loan for two LNG-fuelled tankers

PHOTO: Hafnia’s LNG-fuelled tanker Hafnia Languedoc at sea. Hafnia

Vista Shipping, a joint venture between Singapore-based shipping company Hafnia and Chinese shipbuilder CSSC Shipping Hong Kong, has secured financing for a pair of LNG duel-fuel tankers.

The tankers can run on both LNG and conventional marine fuels.

Vista Shipping has secured the loan with the help of Standard Chartered bank, which acted as the facility coordinator for this transaction. The bank also assisted in securing a second party opinion on the loan from classification society DNV.

“The maritime industry is crucial to the flow of goods and economic prosperity yet is also a key contributor to global greenhouse gas emissions annually – a concerted effort across shipowners, yards, charterers and financiers is needed to make it more sustainable,” Standard Chartered’s global head of Shipping Finance Abhishek Pandey said.

LNG has been gaining attention as a preferred near-term alternative fuel among shipowners to reduce emissions.

Data from DNV shows that 368 LNG-powered vessels are currently in operation and that another 174 LNG-powered vessels are on order for delivery this year. The LNG-powered fleet is projected to grow by 188 from last year to this year.

By Tuhin Roy

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