Damen launches Financial Services division

(Posted on 05/03/21)

As of April 1, 2021, Damen Shipyards Group will start a specialised Financial Services division. This unit supports clients in the financing of new ships by means of both operational and financial lease constructions.

In itself it is not new that Damen assists its clients in attracting financing for new ships. This has been happening for thirty years. “However, the demand for lease solutions is increasing,” explains Jan Willem van Helden, managing director of Damen Financial Services. "By making it a separate entity within the group, we can work with external investors, banks and specialists to optimise our offering on both a large and a smaller scale, with ships and services as one package."

The advantage for Damen's customers is that they can treat their capital investment as operational costs (OPEX). For Damen, the extra service means that a broader package, including maintenance, is offered, so that, for example, better management can be done towards a more sustainable use of the ships. Jan Willem van Helden: “Ship-as-a-Service and circularity in shipbuilding come a step closer. Moreover, the new service means that, from a governance perspective, we have a better overview of how the financing works.”

The working method of the new division opens the way to new business models for Damen Shipyards Group. “In the past, we would first sell a ship and then support our customer with the financing structure,” explains Jan Willem van Helden. “In the new set-up, the operating structure and financial framework are created first, after which customers are approached to purchase ships. This generally include a long term, low risk element such as a concession or charter contract.”

Damen expects to be able to announce the first tangible projects of the new division shortly.

Damen Shipyards Group has been in operation for over ninety years and offers maritime solutions worldwide, through design, shipbuilding, ship repair and related services. Damen operates 36 shipyards in 18 countries and offers direct employment to more than 13,000 people.

Latest News

AtoB@C Shipping takes delivery of Fleximar

AtoB@C Shipping, a subsidiary of ESL Shipping, has announced the successful delivery of Fleximar, the... Read more

Western Bulk re-enters ship ownership with selected partners

Western Bulk, together with reputable Norwegian partners A/S J. Ludwig Mowinckels Rederi, Premium Maritime... Read more

Pacific Basin announces formation of a Sustainable Energy Solutions team

Pacific Basin Shipping Limited, one of the world’s leading dry bulk shipping companies, has announced... Read more

Columbia expects significant growth as more owners shift operations to the UAE

Columbia Group anticipates a period of strong expansion as an increasing number of international shipowners... Read more

Norse Ship Management emerges as digital leader among new-generation ship managers

Norse?Ship Management has expanded its use of Smart Ship Hub’s high frequency sensor data and... Read more

Maritime health experts welcome STCW amendments, but urge against checkbox compliance

As the maritime industry gears up to welcome the IMO’s STCW bullying and harassment training amendments... Read more

NORDEN acquires Southern African cargo activities of Taylor Maritime

NORDEN has acquired the cargo activities of Taylor Maritime in Southern Africa (previously operated... Read more

IMO delay could spark fragmentation risks, warns EmissionLink

Philippos Ioulianou, Managing Director of EmissionLink, has warned the IMO’s decision to delay... Read more

VIKAND highlights bullying and harassment as major mental health concern

VIKAND has highlighted the need for cultural change in the maritime sector as reports of bullying, harassment... Read more

DNV and WMMF guide to support shipowners' path to net-zero

The maritime industry is experiencing a period of significant transformation, driven by rapidly evolving... Read more