Exmar Seeks Equity for LNG RVs

8 October 2009 (Last Updated October 8th, 2009 18:30)

Belgian shipping company Exmar is looking for an equity issue to raise between €75m and €95m ($110m to $140m) to help pay for newbuilds. Exmar, of which the Saverys family holds 57.59%, is seeking finance for three LNG regasification vessels under construction at Daewoo Shipbuilding &am

Belgian shipping company Exmar is looking for an equity issue to raise between €75m and €95m ($110m to $140m) to help pay for newbuilds.

Exmar, of which the Saverys family holds 57.59%, is seeking finance for three LNG regasification vessels under construction at Daewoo Shipbuilding & Marine Engineering, South Korea.

Exmar is believed to have said that sufficient capacity will be secured for the first two vessels and will begin working on the financing of the third vessel in Q4 2009 with an objective of securing commitment by the first quarter 2010.