J. Lauritzen repays remainder of expensive bond loan

J. Lauritzen has no plans of issuing new bonds once the remainder of the carrier's expensive bond loans are repaid in a few weeks. "We had, and still have, a significant and solid surplus liquidity," CFO Birgit Aagaard-Svendsen tells ShippingWatch.

Photo: Carsten Lundager

In three weeks, on May 5th, J. Lauritzen will repay around USD 55.5 million, the remainder of a bond loan that originally totaled USD 86.3 million and which the carrier has been preparing to pay since 2013 through moves including the divestment of its product tanker fleet.

And the carrier does not plan to issue new bonds in 2015, CFO and Executive Vice President Birgit Aagaard-Svendsen tells ShippingWatch.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

SDK Freja anticipates steep earnings drop following record year

Logistics company SDK Freja, which delivered record financials with great advancement on top and bottom lines, takes a more gloomy view of the current fiscal year due to several ”external factors.” However, the growth target remains the same, CEO tells ShippingWatch.

LNG carriers concerned about increasing ship prices

The price on new LNG vessels has soared vigorously, and for Flex LNG this has meant a withdrawal from the market for new ships. Such was the statement by Flex LNG’s chief exec at Marine Money in New York, where he also announced new long-term charter agreements.

Maersk ships delayed up to three weeks on US east coast

Bottlenecks at major container ports on the US east coast have entailed that Maersk vessels are affected by delays of up to three weeks. It’s a combination of congestion, many ships, and a lack of container space, Maersk says.

Further reading

Related articles

Latest news

See all jobs