Direct Ship Finance closes first Norwegian Project Finance transaction

We are pleased to announce our latest bilateral financing of one Supramax bulk carrier, m/v Juniper. The proceeds of the loan assisted our client to part-finance the acquisition of the vessel with successful delivery taking place on the 1st of July, 2022.   

This is our first transaction together with Fearnley Securities (project arranger) and 5 Ocean Shipping Management (main shareholder and commercial manager).  

As Direct Ship Finance, we are pleased to have established a business relationship with both parties and very much look forward to working with them now and in the future. 

Fearnley Securities:

“We are proud to have partnered with Direct Ship Finance for their first Norwegian Project Finance transaction. The Direct Ship Finance team were very professional and pragmatic when needed and we are looking forward to growing the relationship further” 

5 Ocean:

“Our partnership with Direct Ship Finance illustrates how Greek shipping heritage combined with US backed capital investment offer our stakeholders a unique opportunity in the Dry Bulk Shipping industry.

We are extremely proud of our latest acquisition and the commercial terms we achieved with Direct Ship Finance. We consider the acquisition of MV Juniper a landmark transaction for our current shareholders.

The appetite of new investors for our next vessel acquisition has already signified that this relationship can grow further and stronger together with the Direct Ship Finance team”.  

Direct Ship Finance is a lending platform with committed capital from institutional investors with a long-term horizon. Providing senior secured loans with the ability to offer flexible structures is our sole focus.