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Okeanis Eco Tankers Corp. Announces Delivery of VLCC Newbuilding NISSOS KEA

Okeanis Eco Tankers Corp. announces that it has taken delivery of the VLCC NISSOS KEA (the “Vessel”). 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 (the “Transaction”) 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 (the “Facility”) 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.

OET is an international tanker company in the crude oil shipping industry, with the ambition to own, charter out and operate fuel efficient tanker vessels. The Company was incorporated on April 30, 2018 under the laws of the Republic of the Marshall Islands and is listed on Oslo Børs under the symbol OET. The sailing fleet consists of six modern scrubber-fitted Suezmax tankers, seven modern scrubber-fitted VLCC tankers, while the newbuilding fleet consists of one VLCC tanker.
Source: Okeanis Eco Tankers Corp.

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