Capital Tankers has arranged $930.3 million in financing for eleven VLCC newbuilds at shipyards in China and South Korea, Splash247 reports.

The reported packages comprise $450.6 million for five vessels at Dalian Shipbuilding Industry Co, $241.8 million for three at Hanwha Ocean and $237.9 million for three at Hengli Shipbuilding.

The financing providers are not identified. The report describes five-year repayment terms for the Hanwha package and ten-year terms for the Chinese yard packages, including balloon payments. Financing commitments do not establish vessel delivery.

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Source: Splash247 · original report