KfW IPEX-Bank Finances Arklow’s Bulker Quartet

Illustration; Image Courtesy: Arklow Shipping

German KfW IPEX-Bank informed it will finance four bulker newbuildings owned by Irelands’ Arklow Shipping. 

A total of EUR 51 million (USD 60.8 million) is provided together with DekaBank for 16,500 dwt short sea bulk carriers.

The financing is backed by a 95% Hermes cover. In addition to its role as the mandated lead arranger, KfW IPEX-Bank is also acting as Hermes agent, the bank said.

The vessels are being built at the Ferus Smit shipyard in Leer, Germany. The short sea bulkers will be deployed in the North and Baltic Seas and have an ice class (1A).

As informed, the ships are scheduled for delivery between September 2018 and February 2020.

Arklow Shipping currently has a fleet of 51 bulkers that serve a niche segment in northwestern Europe. In addition, the company has 11 ships on order at Ferus Smit and Bodewes yards, VesselsValue’s data shows.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jan 2018 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

APM – ASIA PACIFIC MARITIME 2018

27 years in the making, APM is the premier shipbuilding & marine, workboat and offshore exhibition in Asia trusted by generations of industry professionals.

read more >

Mega Cargo Show 2018

The focus of the event is to bring all connected with cargo fraternity on a single platform…

read more >

Vietship 2018

Vietship is the largest and longest established exhibition in Vietnam featuring all aspect of Shipbuilding, Shipping and Offshore Technology.

Since its first event in 2002, Vietship has become the convergence and platform of advanced technologies regional and worldwide in shipbuilding and ship repair, marine equipment, waterway transportation and services, marine and offshore engineering.

After 16 years of eight consecutive editions, Vietship has affirm itself as an important event in enhancing cooperation and development, attracting investments, exchanging technology and creating ideal opportunities for trade promotion in the international maritime industry.

More info

read more >

LNG Bunkering Summit 2018

The conference will cover the obstacles facing both the shipping and port communities, exploring developments in conversion and new builds…

read more >