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Sovcomflot signs $319m loan for LNG carrier pair

Sovcomflot signs $319m loan for LNG carrier pair

Sovcomflot (SCF) has signed a new $319m, 10-year, limited recourse credit facility with a European bank consortium.

The money will go towards financing a pair of atlanticmax 170,000 cu m, ice-class, tri-fuel LNG carriers.

The vessels will form part of Sovcomflot's recently established SCF Gas Carriers, a dedicated company for gas transportation. Both ships, SCF Melampus and SCF Mitre, have long term charters in place with Shell.

Nikolai Kolesnikov, senior evp and cfo, commented: “This deal represents a major milestone for the company in 2014 and serves to demonstrate its continued access to the international financial markets. In the course of the last one and a half year SCF has arranged long-term bank financing in a total amount of over $700m for its growing liquefied gas transportation business.”

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