U.K. shipbuilder Diverse Marine has launched its personal finance and lease program designed initially for the financed building of offshore wind crew switch vessels (CTV).
Funding for offshore wind CTVs has been difficult, and the corporate stated it has noticed over the past 24 months pressures felt by purchasers and vessel house owners making an attempt to justify builds within the U.K., with typical vessel procurement strategies uncompetitive in opposition to yards in Europe, Scandinavia and the Far East who can provide procurement phrases with out the necessity for stage funds by the development part.
Under its new Diverse Marine Client Finance Program, the shipyard funds the development of the vessels giving the proprietor/operator the power to “collect” the vessel on completion by time period finance or long run lease choices.
Financing for an preliminary, however rolling, eight vessels has been allotted, with the primary vessels already in construct for supply in 2024.
Ben Colman, director of Diverse Marine, stated, “The introduction of this in-house program is the result of over 12 months of discussions with funders after listening to the needs of our clients. For U.K. yards to remain globally competitive, the need to talk monthly lease figures or monthly repayment figures has become more critical than capital purchase costs. The scheme is unique in how it is set up and unique in terms of the finance solution that we can offer our clients”.
Peter Curtis, an impartial marine finance marketing consultant, has been instrumental in establishing the brand new program for Diverse Marine and continues to play an important position within the day after day working and liaison with purchasers as buyer finance director.
“The financing of CTVs with Diverse Marine fulfils decades of ambition with U.K. operators and U.K. shipyards and to finally be able to launch this program is very exciting for the industry,” Curtis stated.
