• 2017 July 24 11:20

    Höegh LNG secures financing for eighth FSRU

    Höegh LNG Holdings Ltd. says it has received commitment letters for a USD 230 million debt financing for FSRU#8. The Facility comprises a 12 year export credit agency ("ECA") term loan of up to USD 150 million backed by Garantiinstituttet for Eksportkreditt ("GIEK") and Eksportkreditt of Norway, and a 5 year non-amortising commercial bank loan of up to USD 80 million funded by ABN AMRO Bank, Danske Bank, Nordea and Swedbank. 

    The Facility is available to fund 65% of the delivered cost of the FSRU with no employment requirement, increasing to 75% upon securing long-term employment. The interest rate will be swapped from floating to fixed, and at the current market conditions the fixed interest rate is expected to come in at around 4.1%. The Facility is subject to final documentation.

    Sveinung J.S. Støhle, President & CEO of Höegh LNG, stated: "With this transaction, Höegh LNG is executing on its financial strategy of diversifying funding sources, while obtaining a flexible and competitive debt financing structure that supports the Company's growth strategy. The favourable financing terms reflects Höegh LNG's strong balance sheet and track-record in securing and operating long-term FSRU contracts. We are very pleased with the excellent support we get from the leading ECAs and banks participating in this transaction."

    Höegh LNG provides floating energy solutions and operates world-wide with a leading position as owner and operator of floating LNG import terminals; floating storage and regasification units (FSRUs), and is one of the most experienced operators of LNG Carriers (LNGCs). Höegh LNG's vision is to be the industry leader of floating LNG solutions and the strategy is to continue to focus its growth plans in the FSRU market, with the objective of securing long-term contracts with strong counterparties at attractive returns. Höegh LNG is a Bermuda based company with established presence in Norway, Singapore, the UK, USA, South Korea, Indonesia, Lithuania, Egypt, Colombia and Turkey. The company employs approximately 115 office staff and 500 seafarers.




2019 November 17

16:12 Port of Dover wins ESPO Award 2019
14:47 Aker Solutions and leading operators join forces to qualify subsea gas separation
14:12 Wight Shipyard Co to build an innovative hybrid CTV for CWind
12:42 PSA Marine and Wartsila join hands to tackle climate emergency
11:38 A.P. Moller-Maersk improves operational profitability
10:15 ABS and Arista launch smart shipping journey

2019 November 16

16:42 Team Tankers International Ltd. announces Q3 2019 results
15:02 GasLog places NOK 900M of senior unsecured bonds due 2024
14:23 BTG and GoodFuels preparing for major investment in bio-refinery to support shipping’s low carbon fuels demands
13:41 Third L-class delivered in China
12:32 Seaspan to purchase a fleet of six containerships on long-term charter for $380 million
11:28 Mammoet inks agreement with Port of Coeymans Marine Terminal to strengthen presence along East Coast
10:18 Metal Sharks delivers pilot boat duo to BCMT

2019 November 15

18:09 Coast Guard medevacs cruise ship Aida Perla passenger just off Ponce, Puerto Rico
17:48 Sovcomflot reports its results for third quarter and nine months of 2019
17:23 Wärtsilä and PSA Marine collaborate to achieve clean energy shipping
17:15 Bollinger Shipyards contracted to build ocean transport barge
17:00 Composit supports 7th International Forum of Dredging Companies as its Sponsor
16:57 Ulstein unveils its concept of the first hydrogen powered offshore vessel
16:36 RF Government separates positions of Deputy Transport Minister and head of Rosmorrechflot
16:14 IMO holds training on impacts of anti-fouling systems and ships’ biofouling on marine environment
15:39 Norway boosts IMO's GreenVoyage-2050 GHG project
15:11 New Wärtsilä Expertise Centre provides value-adding lifecycle support
14:57 LUKOIL commissions phase three facilities at Filanovsky field
14:30 NSR cargo traffic totaled 26 million tonnes year-to-date, up 63.5% YoY
14:13 Georgia Ports Authority up 3.5 percent to 428,400 TEU in October 2019
13:13 Diana Shipping announces direct continuation of time charter contract for m/v Medusa with Cargill
12:51 Multipurpose Reloading Complex reports 4-fold increase of allocations for environment protection to RUB 11.5 million
12:32 ABI Research: Commercial fleets looking to tech to accelerate ROI in the face of rising costs, competition, and uncertainty
12:13 Port of Oakland names Danny Wan Executive Director
11:28 ESL Shipping participates in Intelligence Hunt
11:00 CMA CGM to apply GRI from Canada West Coast to worldwide destinations (Excluding EU, Russia & USA)
10:41 Delft Dynamics, Next Ocean and Damen perform qualification test in North Sea
10:40 Gremyashii corvette of RF Navy’s Nothern Fleet to be tested in White Sea
10:16 Training ship Perekop of RF Navy's Baltic Fleet arrives in Republic of Myanmar
09:54 Bunker prices go down at the port of Saint-Petersburg, Russia (graph)
09:39 MABUX: Bunker market this morning, Nov 15
09:32 Brent Crude futures price is up 0.45% to $62.56, Light Sweet Crude – up 0.51% to $57.06
09:13 Baltic Dry Index is up to 1,364 points

2019 November 14

18:19 French Prime Minister Edouard Philippe inaugurates CEVA Logistics’ new headquarters in Marseille
18:00 Boosting handling of cargo bound for Arctic considered as strategic development vector of Murmansk Commercial Seaport
17:41 Port of Liepaja (Latvia) handled 5.92 million tonnes of cargo in 10M'2019, down 5.1% Y-o-Y
17:20 Gasunie, EBN, Port of Amsterdam and Tata Steel work together on the development of a CCUS project in the North Sea Canal area
16:49 Hung Hua Construction of Taiwan orders third Fast Crew Supplier this year to support offshore wind ambitions
16:36 Main engines loaded onto second serial ship of PV22 project at Nevsky Shipyard
16:15 Hapag-Lloyd announces rates from East Asia to North Europe and Mediterranean
15:59 Yevgeny Savkin appointed as General Director of Novyie Kommunalnyie Tehnologii in Ust-Luga port
15:15 The ICS and ECSA call for immediate and effective intervention after yet another attack in the Gulf of Guinea
15:12 Restoration of 90 year old Amsterdam bridge by Niron Staal
14:43 Expert forecasts scrubbers to consume some 600,000 barrels of heavy fuel per day in 2020
14:14 Norway boosts IMO's GreenVoyage-2050 GHG project
13:32 Sea Port of Saint-Petersburg invested RUB 630 million in development in 9M’19, up 53% YoY
13:11 MOL earns AIP for design of bow wind-shield, ultra-large containership
12:30 Bunker prices are flat at the Far East ports of Russia (graph)
12:04 CMA CGM announces FAK rates from Asia to the Middle East Gulf
11:23 Aleksey Rykovanov appointed as General Director of Murmansk Commercial Seaport
11:01 Arista Shipping starts the path to smart shipping operations with an ocean data agreement with ABS
10:39 RF Government supports expansion of Murmansk Transport Hub capacity to 65 million tonnes by 2035
10:16 MABUX: Bunker market this morning, Nov 14
10:02 WesCom Signal and Rescue goes green at METSTRADE 2019