Sign up
Log in Sign up
Wed 22 Jun 2011, 13:31 GMT

Bominflot announces EUR 205 million credit facility


Supplier secures 2½ year revolving credit facility, nine banks sign into the transaction.

Bominflot Bunkergesellschaft für Mineralöle mbH & Co. KG and its subsidiaries have secured a 2 ½ year EUR 205 million senior multicurrency revolving credit facility, including letters of credit and guarantees related to its trading business.

The transaction was led by Deutsche Bank AG, HSH Nordbank AG, ABN AMRO Bank N.V. and ING Bank N.V. as mandated lead arrangers, and was successfully closed on June 1st, 2011. In total, nine banks signed into the transaction.

Bominflot is one of the world's largest independent players in the bunker market and is 100 percent owned by private German shareholders.

With its headquarters in Hamburg, Bominflot has an extensive network of 34 subsidiaries and branch offices in key bunkering areas around the world.

As a physical supplier, Bominflot operates several owned and rented storage units as well as barges in main bunker ports. Commenting on the structure of its business, Bominflot said: "Access to infrastructure as well as the recently restructured international trading unit are the key factors for Bominflot to be one of the most diversified and largest independent suppliers of marine fuels."

"The new financial structure supports the strategy of continuous growth of the Bominflot Group," the German firm added.

Hapag-Lloyd and DSV logo side by side. Hapag-Lloyd and DSV sign 18,000-tonne CO2e reduction agreement for sustainable marine fuels  

Two-year framework allows inclusion of alternative fuels beyond biofuels in shipping decarbonisation partnership.
Bangkok city skyline. Uni-Fuels opens Thailand office as part of Southeast Asia expansion  

Marine fuel supplier establishes Bangkok entity, appoints managing director with 15 years’ industry experience.
Washington State Hybrid-Electric 160-Auto Ferry vessel render. Corvus Energy to supply battery systems for Washington State Ferries hybrid vessels  

ABB selects Corvus for two new 160-vehicle ferries as part of $3.98bn electrification plan.
Vinssen and Mana Engineering sign MoU. Vinssen, Mana Engineering partner on hydrogen fuel cell retrofit for 800-teu feeder vessel  

South Korean and Dutch firms to pursue Lloyd’s Register approval for hybrid retrofit concept.
Hercules Elisabeth vessel. Hercules Tanker Management takes delivery of second Ultra-Spec vessel in China  

Hercules Elisabeth is the second of 10 hybrid-ready tankers designed for alternative fuels.
Wolf 1 vessel. Petrol Ofisi launches fuel supply tanker Wolf 1  

Turkish bunker supplier adds 1,750-dwt vessel with alternative fuel infrastructure to fleet.
BIMCO meeting. BIMCO to convene for adoption of biofuel clause and ETS provisions at February meeting  

Documentary Committee to consider new contractual frameworks for alternative fuels and emission trading scheme compliance.
Sea Change II vessel render. Incat Crowther and Switch Maritime develop 150-passenger hydrogen ferry for New York  

Design work begins on 28-metre vessel with 720 kg hydrogen capacity and 25-knot speed.
Aerial view of a container vessel. HIF Global signs heads of agreement with German eFuel One for 100,000 tonnes of e-methanol annually  

Deal covers supply from HIF’s Uruguay project, with e-methanol meeting EU RED III standards.
Welcoming of Kota Odyssey at Jordan’s Aqaba Container Terminal. PIL’s LNG-powered vessel makes maiden call at Jordan’s Aqaba port  

Kota Odyssey is Pacific International Lines’ first LNG-fuelled ship to call at the Red Sea port.




 Recommended