HB Grandi upgrades fleet

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HB Grandi is upgrading its fleet this year with two new pelagic vessels to be built by Turkish shipyard, Celiktrans Deniz Insaat Ltd.

HB Grandi upgrades fleet [1028525] - 1 Linkid : 2143639

'Venus NS 150' will replace a 55-year-old pelagic vessel

The new vessels, Venus NS 150 and Víkingur AK, will replace two 55-year-old pelagic vessels: Víkingur AK 100, which has already been sold, and Lundey NS 14. Once this transaction is completed, the company says the average age of its fleet will decrease from 33 to 23 years.

The company has recently completed debt financing for the vessels, as well as the refinancing of older long-term loans, with Arion banki and DNB Bank ASA. The total amount is €77m, to be drawn down in three tranches, with the term of each drawdown being 5 years.

Part of the loan will be used to refinance current liabilities due to accrued payments in connection with the shipbuilding.

The loan agreement carries variable interest, with the current average interest being 2.8%.

Delivery is expected this year.