We are pleased to announce that NAT has entered into a five-year $306 million senior secured credit agreement arranged by CSG Investments, Inc., and funded by Beal Bank of Dallas, Texas. The loan will retire the present Revolving Credit Facility (“RCF”) in full.
On 1 January 2020 vessel owners must have made the decision to install exhaust gas scrubbers or to burn low sulphur or alternative fuels. The cost implications of any decision will be difficult to predict and there is no shortage of opinions in the marketplace. To assist the shipowner, The Swedish Club has cut through the chatter and obtained expert advice from a leading marine engineering consultancy and from experts in contract law.
“The 2020 global sulphur cap will be the regulatory game changer of the decade with profound implications for the economics of shipping” believes Chairman of the International Chamber of Shipping (ICS), Esben Poulsson. “But there are even more profound changes to come. We are rapidly moving into a multi-fuel future to be followed we hope, in the 2030s, by the arrival of commercially viable zero CO2 fuels suitable for global application.”
EUROPE: ICS looking beyond sulphur emissions
‘The 2020 global sulphur cap will be the regulatory game changer of the decade with profound implications for the economics of shipping,’ says Chairman of the International Chamber of Shipping, Esben Poulsson. ‘But there are even more profound changes to come.’
The EFG Sailing Arabia – The Tour fleet had a packed programme on the final day in Masirah, with no fewer than six Stadium races producing five different winners. Once again the island venue produced highly competitive racing, with a shifting and changeable wind testing the skills and adaptability of the 10 international crews taking part in the two-week challenge down Oman’s striking coastline.