November 14, 2018

Sovcomflot pens 10-year loan

Russian state-owned shipping company Sovcomflot completed in November a $149 million, 10-year project financing agreement with a consortium of three European banks.

The lending banks are ING Bank, KfW Ipex-Bank and Credit Agricole CIB.

Sovcomflot plans to use the funds to build a liquefied natural gas carrier with a capacity of 174,000cm that will be used under a long-term contract with France’s Total.