Vitol Asia increases credit facility to $2.21bn

Wed 12 Jun 2013, 07:33 GMT

Vitol Asia increases credit facility to $2.21bn

Energy trading giant announces the renewal and increase of Vitol Asia's one-year revolving credit facility.

Vitol Group - owner of bunker firms V-Marine Fuels and Cockett Marine Oil - has announced the renewal and increase of Vitol Asia's one-year revolving credit facility. The credit facility was closed at $2.21bn, representing a significant year-on-year increase.

There were 11 Original Mandated Lead Arrangers and Bookrunners. In addition, a further 19 banks joined the credit facility.

"Vitol appreciates the continued support of all its banking partners," the Swiss-based energy and commodity trading company said.

Vitol


		Norsepower installs first rotor sail aboard methanol-powered ro-ro vessel built for Airbus charter The Spirit of Toulouse will carry six rotor sails alongside dual-fuel methanol engines on a transatlantic route.

		Baleària Canarias completes first truck-to-ship LNG bunkering for fast ferry at Tenerife Mercedes Pinto received around 600 MWh of LNG via two tanker trucks simultaneously.

		O Bunkering claims 15-minute marine lubricant delivery at Duqm Omani supplier says local stock enables rapid turnaround for vessel operators.

		World's first operational ammonia bunker vessel enters service Converted 5,500-cbm gas carrier has received the first ammonia bunkering class certificate.

		Shipowners risk financial exposure by delaying EU allowance transfers, EmissionLink warns EmissionLink says last-minute EUA compliance habits are creating avoidable financial and commercial risk.

		South Korea’s Vinssen signs MoU with Finland’s WE Tech Solutions to target European marine electrification market The agreement combines hydrogen fuel cell systems with advanced power conversion and management technology.

		Changhong International starts building 21,700-TEU LNG dual-fuel container ship for MSC Vessel is described as the largest container ship currently under construction in Zhejiang Province.

		Changhong International delivers fifth MSC LNG dual-fuel boxship 324 days early Chinese shipyard hands over 10,300-TEU vessel to MSC well ahead of contract schedule.

		Cosco Shipping names 88,000-cbm VLGC Chang Ping Yuan with dual-fuel LPG propulsion Owner claims 20% CO₂ reduction and Panama Canal compatibility across both lock systems.

		World Fuel seeks senior marine fuels sales executive in London Position requires minimum of 10 years' experience in marine fuels, marine energy, or shipping.