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Deprecated function: TYPO3\PharStreamWrapper\Manager::initialize(): Implicitly marking parameter $resolver as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 19 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/file.phar.inc).
Deprecated function: TYPO3\PharStreamWrapper\Manager::initialize(): Implicitly marking parameter $collection as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 19 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/file.phar.inc).
Deprecated function: TYPO3\PharStreamWrapper\Manager::__construct(): Implicitly marking parameter $resolver as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 19 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/file.phar.inc).
Deprecated function: TYPO3\PharStreamWrapper\Manager::__construct(): Implicitly marking parameter $collection as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 19 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/file.phar.inc).
Deprecated function: UpdateQuery::expression(): Implicitly marking parameter $arguments as nullable is deprecated, the explicit nullable type must be used instead in require_once() (line 1884 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/database/database.inc).
Deprecated function: MergeQuery::expression(): Implicitly marking parameter $arguments as nullable is deprecated, the explicit nullable type must be used instead in require_once() (line 1884 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/database/database.inc).
Deprecated function: feeds_set_subscription_job(): Implicitly marking parameter $job as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 1442 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/bootstrap.inc).
Deprecated function: rules_log(): Implicitly marking parameter $element as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 1442 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/bootstrap.inc).
Deprecated function: rules_get_event_handler(): Implicitly marking parameter $settings as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 1442 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/bootstrap.inc).
Deprecated function: session_set_save_handler(): Providing individual callbacks instead of an object implementing SessionHandlerInterface is deprecated in drupal_session_initialize() (line 245 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/session.inc).
Deprecated function: DrupalEntityControllerInterface::resetCache(): Implicitly marking parameter $ids as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 3562 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/bootstrap.inc).
Deprecated function: DrupalDefaultEntityController::resetCache(): Implicitly marking parameter $ids as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 3562 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/bootstrap.inc).
Deprecated function: SelectQueryInterface::getArguments(): Implicitly marking parameter $queryPlaceholder as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 3562 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/bootstrap.inc).
Deprecated function: SelectQueryInterface::preExecute(): Implicitly marking parameter $query as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 3562 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/bootstrap.inc).
Deprecated function: SelectQueryExtender::getArguments(): Implicitly marking parameter $queryPlaceholder as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 3562 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/bootstrap.inc).
Deprecated function: SelectQueryExtender::preExecute(): Implicitly marking parameter $query as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 3562 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/bootstrap.inc).
Deprecated function: SelectQuery::getArguments(): Implicitly marking parameter $queryPlaceholder as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 3562 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/bootstrap.inc).
Deprecated function: SelectQuery::preExecute(): Implicitly marking parameter $query as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 3562 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/bootstrap.inc).
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Deprecated function: search_api_index_specific_items_delayed(): Implicitly marking parameter $index as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 1442 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/bootstrap.inc).
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GoodBulk in $200 million refinancing swoop

June 25, 2020

Owner and operator of dry bulk vessels GoodBulk is joining its industry peers in securing refinancing and reducing cash break-even levels.

The company has received credit committee approval from its banks for a loan of $200 million to refinance the full amounts outstanding under five of its six existing facilities for approximately the same total amount.

The new $200 million loan is subject to the execution of customary definitive documentation and is expected to be finalized it within the first half of July 2020.

The loan will have a tenor of five years, bear interest at LIBOR plus 2.35%, which is about 0.15% below the present spread and include a non – amortizing period up until January 2021.

“This arrangement will allow GoodBulk to further reduce its already competitive all-in cash break – even for the second half of 2020 to $6,922 per day from a current $10,507 per day, for 2021 to $9,947 per day from a current $10,305 per day and for 2022 to $9,810 per day from a current $9,878 per day,” the company said.

The refinancing will definitely provide some ease for the company as its plans for capital investments for this and next year.

Specifically, the company plans to install ballast water treatment systems on seven Capesize vessels in 2020 and on two Capesize vessels in 2021 during their scheduled drydocks.

“BWTS installations will be evaluated on a case by case basis depending upon the age of each ship and the market conditions at the time of the required installation,” the company said earlier.

Based on initial estimates, GoodBulk expects to spend $14.7 million in 2020 and $3.7 million in 2021 for the drydockings and BWTS installations.