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Rentocean secures € 15m revolving term loan facility

By: Lewis Holdsworth 29/04/2015 Oceanteam

General

Oceanteam Shipping is pleased to announce that the 100 percent owned subsidiary RentOcean has successfully signed a EUR 15 million revolving term loan facility provided by NIBC Bank N.V. The facility matures in 3 years after the facility start date.

Proceeds of drawdowns under the facility will be used for investments in new rental equipment.

"In line with our strategy of further enhancing the Company's marine asset and design engineering divisions into one unique single service solution, we are investing to optimize and expand our pool of marine assets. This new facility gives us the financial flexibility to execute our business plan" says Haico Halbesma, Oceanteam Shipping's CEO.

RentOcean designs, builds and owns a large pool of various sizes demountable turntables with a capacity of up to 4000, from their base in Velsen Noord the Netherlands, with deepwater quayside facilities, Rentocean are able to accommodate all sizes of vessels for mobilisation and demobilisation with easy access to the North Sea.

RentOcean specialises in building demountable turntable systems which can be delivered in 40ft containers to all ports globally. Rentocean are able to design and produce turntables in various sizes, for onshore and offshore use and for a variety of cables, umbilicals, pipes or flowlines.

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Rentocean secures € 15m revolving term loan facility

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