Swedish Orient Line (SOL) has become a majority shareholder in Scandinavian Logistics Partners (Scanlog). Both companies are based in Sweden.

A crucial reason for this move is SOL's commitment to sustainability. Last year, SOL also made a major investment in Wallenius SOL's sustainable transportation program.
Mathias Wideroth, Chairman of the Board and founder of Scanlog: “With SOL, Scanlog gets a strong majority shareholder who can help us continue our rapid growth.”
The new shipper will operate in the Baltic Sea region with multiple ice-classed LNG-powered vessels; these vessels should reduce greenhouse gas emissions by 60% and fuel consumption by 50% per transported unit.

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Diamond S Secures USD 525 Million

Owner and operator of crude and product tankers Diamond S Shipping Inc. has obtained on a five-year USD 525 million credit facility.
According to the company, the facility is comprised of a USD 375 million term loan and a USD 150 million revolving credit. The funds were used to repay about USD 500 million of Diamond's current outstanding term loans.

“We are pleased that we were able to close on this facility and achieve a number of important goals, particularly given the challenging international environment for ship lending,” Kevin Kilcullen, Chief Financial Officer, stated.

The facility was issued by ship lending banks including Nordea Bank Abp, Crédit Agricole Corporate and Investment Bank, ABN AMRO and BNP Paribas.
Diamond S owns and operates 66 vessels, including 15 Suezmax vessels.

Dear Customers,

Please be informed that AuctionExport offices will be closed this Wednesday, on January 1st due to the New Year holiday. Regular hours will resume on January 2nd 2020.

May this year bring new happiness, new goals, new achievements and a lot of new inspirations on your life.

AuctionExport Team. 

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