Bruton Ltd, a tanker owner and operator, has received a financing proposal covering 90% of the construction cost for its first two dual-fuel LNG Very Large Crude Carriers (VLCCs), the company said.
The vessels, Mount Vision and Mount Horizon, are scheduled for delivery in July 2026 and January 2027, respectively. Bruton has so far paid 20% of the total instalments for each ship.
The proposed financing has a tenor of 15 years and an “attractive” cost structure, which the company said is expected to result in a highly competitive cash break-even level.
In parallel, Bruton has entered into a non-binding letter of intent for a charter party with what it described as a leading global trading house covering the employment of the two vessels.
The proposed charter structure is designed to provide exposure to the spot market while securing a premium linked to the ships’ superior fuel efficiency and environmental performance, enabled by their dual-fuel LNG capability.
Bruton also holds options for two additional VLCC newbuildings at Nantong Xiangyu Shipbuilding (NTS), with scheduled deliveries in 2029.
The company said the programme reflects its strategy to build a modern, environmentally advanced VLCC fleet and to position itself to benefit from strong tanker market fundamentals and rising demand for more sustainable tonnage.
