Prenumeration
Beskrivning
| Land | Bermuda |
|---|---|
| Lista | Euronext Growth Oslo |
| Sektor | Tjänster |
| Industri | Shipping & Offshore |
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Hamilton, Bermuda, 20 January 2026
Bruton Ltd. is pleased to announce that it has received a financing proposal covering 90% of the construction cost for its first two dual-fuel LNG Very Large Crude Carriers (VLCCs), Mount Vision and Mount Horizon, scheduled for delivery in July 2026 and January 2027, respectively. To date, Bruton has paid 20% of total instalments on each vessel.
The proposed financing carries a 15-year tenor and offers an attractive cost structure, which is expected to provide the Company with a highly competitive cash break-even level.
In parallel, Bruton has entered into a non-binding Letter of Intent (LOI) for a charter party with a leading global trading house for the employment of these vessels. The proposed charter arrangement is designed to provide exposure to the spot market while securing a premium for the vessels' superior fuel efficiency and environmental performance enabled by their dual-fuel LNG capability.
Additionally, Bruton holds options for two further VLCC newbuildings at NTS, with scheduled deliveries in 2029. This development underscores Bruton's strategy to build a modern, environmentally advanced VLCC fleet, positioning the Company to benefit from strong tanker market fundamentals and increasing demand for sustainable tonnage.
For further enquiries, please contact:
Gunnar Eliassen, Contracted CEO,
gunnar@magnipartners.com