World News
Eagle Bulk Gets Commitment for Scrubber Financing
Eagle Bulk Shipping Inc. [NASDAQ:EGLE] (Eagle Bulk) says it has received commitment for a new five-year credit facility totalled at $208 million, part of which will be used to finance recent commitments to install scrubbers on a number of its vessels.
Of the total, $153 million is a term loan and $55 million is a revolving credit facility.
A consortium of banks is behind the loan commitment, including ABN AMRO, DNB Bank ASA, and Nordea.
The facility, which is expected to close at the end of this month and will also be used for general corporate purposes and to refinance existing debt, may be increased up to an additional $60 million for the acquisition of additional vessels.
The bulk player said in September it had placed firm orders for 19 scrubbers with options for up to an additional 18 units, before expanding the programme in November to a total of 34 vessels .
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 509.00 | 4.50 | 623.00 | 3.00 |
| Rotterdam | 463.00 | 7.00 | 623.50 | 2.00 |
| Houston | 471.50 | 4.50 | 627.50 | 3.50 |
| Fujairah | 501.00 | 4.50 | 714.00 | 1.00 |
| Global 20 Ports Average | 529.00 | 2.50 | 714.50 | 2.50 |
| Global 4 Ports Average | 486.00 | 3.00 | 647.00 | 2.50 |
| Global Average Bunker Price | 572.50 | 2.00 | 753.00 | 2.00 |
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