Updates provided by chief financial officer Leo Vrondissis on the company’s recent quarterly earnings call indicate borrowing capacity comfortably exceeds remaining newbuilding instalment payments.
After two instalment cheques in early July, Gener8 has $517.9m in payments left, against an expected $540.8m in borrowing capacity based on independent broker valuations performed on 25 July.
Such valuations would take into account the weakening of VLCC prices so far this year.
