Pelagic Credit to Invest $25 Million in Chemical Tanker Financing

12:53 AM EDT, 07/22/2026 (MT Newswires) -- Pelagic Credit (PLGC.OL) said Tuesday it agreed to finance two chemical tankers with a deadweight tonnage of 10,000 each, marking its first investment in the sector. The shipowning company will provide a $24.7 million pre-delivery loan to fund yard progress payments, which is expected to generate $4.2 million in distributable earnings from fees and interest. Following delivery, Pelagic Credit plans to finance the vessels through sale-and-bareboat-charter-back arrangements, subject to customary conditions. The transaction is expected to close in July.