Sign up
Log in Sign up
Thu 21 Nov 2013 19:23

Bunkers International secures financing


Funds to be used to refinance existing debt and support the company's growth initiatives.

PNC Bank, N.A., a member of The PNC Financial Services Group, Inc. has announced the closing of a $50 million asset based revolver for marine fuel supplier Bunkers International Corporation.

In a statement, PNC Bank said that Florida-based Bunkers International would be using the funds to refinance existing debt and support its growth initiatives.

Bunkers International has been expanding operations globally since 2000, launching new operations in Colombia, New York, the UK, Singapore, Hong Kong, Malta, Turkey, and South Africa.

The company is a leading physical bunker supplier in the Colombian ports of Cartagena, Barranquilla, Buenaventura and Santa Marta and provides trading and brokering services to ship operators around the world.

The PNC Financial Services Group is a financial services organization that provides retail and business banking; residential mortgage banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management.

Product tanker Artizen, owned by Hong Lam Marine. Hong Lam Marine takes delivery of Artizen tanker in Japan  

Singapore-based firm receives new vessel from Kegoya Shipyard.
Birdseye view of containership. Panama Canal launches NetZero Slot to incentivize low-emission transits  

New reservation category prioritizes dual-fuel vessels capable of using alternative fuels from November.
Van Oord's Vox Apolonia. Van Oord deploys bio-LNG dredger for Dutch coastal project  

First bio-LNG powered trailing suction hopper dredger operation begins in the Netherlands.
Model testing for Green Handy methanol-powered vessel. Methanol-fuelled Green Handy ships pass model tests ahead of 2026 construction  

Baltic carrier reports model testing exceeded performance targets for 17,000 dwt methanol-powered vessels.
Miguel Hernandez and Olivier Icyk at AiP for FPSO. SBM Offshore's floating ammonia production design gets ABS approval  

Design converts offshore gas to ammonia while capturing CO2 for maritime and power sectors.
Philippe Berterottière and Matthieu de Tugny. GTT unveils cubic LNG fuel tank design for boxships with BV approval  

New GTT CUBIQ design claims to reduce construction time and boost cargo capacity.
Wilhelmshaven Express, Hapag-Lloyd. Hapag-Lloyd secures multi-year liquefied biomethane supply deal with Shell  

Agreement supports container line's decarbonisation strategy and net-zero fleet operations target by 2045.
Dual-fuel ship. Dual-fuel vessels will dominate next decade, says Columbia Group  

Ship manager predicts LNG-powered vessels will bridge gap until zero-carbon alternatives emerge.
Stril Poseidon vessel. VPS campaign claims 12,000 tonnes of CO2 savings across 300 vessels  

Three-month efficiency drive involved 12 shipping companies testing operational strategies through software platform.
Birdseye view of a ship. Gard warns of widespread cat fines surge in marine fuel  

Insurer reports elevated contamination levels, echoing VPS circular in early September.




 Recommended