Atlantic Navigation Orders Three New Vessels, Secures $28 Million Loan Facility

MT Newswires09-11 10:33

Offshore support vessel operator Atlantic Navigation Holdings (SGX:5UL) has signed contracts to acquire two anchor-handling tug supply vessels and a 300-foot flat-top deck barge, according to a Thursday filing with the Singapore Exchange.

The two sister vessels will be built in Guangzhou, China, for around $12.3 million each, with delivery slated for the first quarter of 2028.

The barge on the other hand, is being built in Shanghai for around $3.2 million, and is scheduled for delivery during the first quarter of $27.8 million.

To fund its fleet expansion, Atlantic Navigation entered into a facilities agreement with the National Bank of Fujairah for three medium-term loans totaling up to $28 million, featuring a five-year tenure.

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