RentOcean to Invest in Rental Equipment

Oceanteam Shipping informed that its subsidiary RentOcean has successfully signed a EUR 15 million revolving term loan facility provided by NIBC Bank N.V.

According to the company’s filing to Oslo Stock Exchange, 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 is the marine assets division of Oceanteam Shipping. The Velsen Noord-based company designs, builds and owns a pool of various sizes demountable turntables.