Russia's Sovcomflot (SCF Group) has revealed a refinancing deal for nine LR1 tankers owned with Glencore as it survived a weaker end to 2020 to boost earnings.
The Moscow-listed tanker and LNG carrier specialist said two loan agreements were signed for a total of $207.3m at the end of last year.
These replaced existing loans for the ships.
Sovcomflot and trader Glencore first teamed up in 2010 to own five vessels built at Hyundai Mipo Dockyard in South Korea.
