Fearnley Securities has arranged new project finance deals worth a total of $180m.
Since the summer, the firm has closed four transactions.
The deal flow is likely to continue throughout this year.
Axel Bendvold, head of project finance at Fearnley Securities, told TradeWinds: “We are currently working on several new projects, which will probably be announced before Christmas.”
The four new projects include a VLCC, an MR1, a multipurpose vessel and a platform supply vessel.
The VLCC project is worth $85m, with $25m in equity.
TradeWinds reported last week that Fearnley Securities was the sole arranger for a VLCC deal involving Sweden’s Energifonden Sverige and Norway’s Njord Shipping.
The 319,100-dwt Captain X Kyriakou (built 2013) was sold by Greece’s Athenian Sea Carriers, the tanker company of the Kyriakou family, and was its last big crude carrier.
The ship has been renamed the Agneta Pallas III.
In September, TradeWinds also reported the potential sale of the VLCC at $80m to a Norwegian fund buyer.
The MR1 tanker project is $37.15m, with $19.9m in equity.
“Despite softening rates across most tanker segments since the summer months, particularly for product tankers, we remain positive towards longer-term fundamentals in the segment. The view is shared by our investors, hence, appetite for tanker projects remains strong,” Bendvold said.
The MPP project is a newbuilding worth $34.5m, with $15.8m in equity.
The size of the PSV project is NOK 248m ($23m).
“We also remain positive towards the OSV [offshore support vessel] market despite a somewhat more challenging spot market as of late. Investor appetite remains strong, supported by the strong reception of our last PSV project,” he said.
So far this year, Fearnley Securities has arranged eight projects with a total deal size of around $300m with $151m in equity.
Earlier deals included two PSVs, one subsea ship, one seismic support vessel and one aframax tanker.
The value of Fearnley Securities’ project finance shipping portfolio exceeds $1bn.
