The loan will be used to fund Hartree’s interest in shipbuilding contracts in place with a Chinese shipyard for the construction of product tankers. It is a significant deal between two major players that have a longstanding relationship and a strong interest in this market.

About The Arab Energy Fund (TAEF)

TAEF (previously known as The Arab Petroleum Investments Corporation (APICORP)) is an energy-focused multilateral financial institution established in 1975 by the ten Arab oil exporting countries. The company’s mission is to support the sustainable development of the region’s energy sector and related industries through a range of financing and direct equity solutions, as well as energy research and advisory services.

For more information, please visit apicorp.org.