Genco has secured a new loan facility that will be used to finance scrubber installations, it revealed today alongside a profitable fourth quarter.
The New York-listed company said it had entered into an amendment to its $460m credit facility, which will provide extra funds for fitting scrubbers.
The revised loan will provide up to $35m in additional cash to cover up to 90% of the expenses related to buying and installing exhaust gas cleaning systems on 17 capesize vessels, Genco said.
