In October 2020, Fleetscape completed its first Sale and Leaseback (“SLB”) transaction with RFOcean Limited (“RFO”) by acquiring a 19,000dwt IMOII Chemical Tanker “RF Stella”. Fleetscape completed its second SLB in February 2021 by adding sister vessel “RF Marina” to the existing financing structure. The proceeds from the transactions were used to part-finance the acquisition cost of the vessels. The vessels were acquired in a back-to-back SLB’s with Fleetscape. The total acquisition price of the vessels was US$14.4 million, and the transactions include a purchase obligation by RFO at the end of the five-year charter period.
Guillaume Bayol, Managing Director at Oaktree and Co-Portfolio Manager of the Fleetscape platform, said: “Fleetscape is excited to finance the acquisition of two chemical carriers with RFOcean. The company has proven a strong combination of technical and commercial know-how, and fits well within Fleetscape’s strategy. We look forward to further expanding the relationship with RFOcean going forward”
RFOcean is a co-investor and commercial manager led and owned by Frederik Rye-Florentz. The Company was founded in 2018 and is headquartered in London, UK, and has to date invested in six chemical tankers and one feeder container vessel