Norwegian shipowner Gram Automotive Carriers introduced it has refinanced the Viking Journey with an undisclosed Japanese financial institution.
The brand new $41 million mortgage has a length matching the vessels present constitution ending in mid-2028 and a margin of SOFR +1.73%. This compares a margin of SOFR +4.26% beneath the earlier lease financing which was repaid earlier this 12 months, the corporate mentioned.
“We’re happy to welcome one of many premier banks in Japan in our banking group as we optimize our capital construction and value base to maximise revenue and shareholder returns. Decrease price of debt, mixed with a close to file income backlog inbuilt a traditionally robust automotive transport market, help long-term money circulation visibility and continued enticing dividend distributions,” mentioned Georg A. Whist, CEO of Gram Automotive Carriers.
The 6,700 CEU Viking Journey was constructed at Jinling Shipyard in 2015. The vessel is at present chartered at a mean day charge of $60,000.
