DIRECT SHIP FINANCE CONTINUES TO DELIVER ON NORWEGIAN PROJECT FINANCE TRANSACTIONS

We are pleased to report another collaboration with Fearnley Securities. This new transaction concerns the bilateral financing of 2x MR2 Product Tankers, the mv ‘UOG Sparta’ and mv ‘UOG Oslo’. The proceeds of this facility assisted our client to part-finance the acquisition of these two vessels with delivery taking place in October, 2022.   

Next to Fearnley Securities, acting as project arranger, another key player in this project is United Overseas Group as main shareholder and commercial manager of these assets.

Thank you and big congratulations to UOG, Fearnley Securities and other investors for the successful closing of this transaction.