Vessel financing facility announced

(Posted on 09/05/24)

In a landmark partnership, Damen Financial Services (DFS) and Siemens Financial Services (SFS) have joined forces to establish a new facility for vessel financing solutions: Damen Ship Lease (DSL). The DSL facility is now one of the funds of Damen Ship Lease Cooperation which is managed by DFS. It is designed to provide current and prospective ship owners with the ability to expand their fleets by enabling them to acquire state-of-the-art vessels using flexible financing options.

This strategic alliance combines Damen’s extensive expertise in maritime solutions with Siemens Financial Services’ experience in financing the maritime industry. The two organisations also share a commitment to advancing the maritime sector through sustainable and client-focused services. The lease options offered allow operators in the highly competitive maritime industry to acquire vessels with the latest technology on board, enabling them to renew their fleets to become more sustainable and efficient. Financing is specifically available for workboats such as tugs, fast crew suppliers, Multi Cats, tenders, small ferries and waterbuses.

Director Damen Ship Lease Thijs Verwoerd says: “We are proud to be expanding our business through this partnership with Siemens Financial Services and glad that we can offer even more clients the option to acquire new Damen vessels. We are particularly happy that this facility will provide vessel operators with broader access to the latest maritime innovations – notably those that will support them in achieving increased sustainability.”

“We are pleased to be collaborating with the world leading Damen Group to drive their business forward,” adds Julian Hobbs, CEO, Siemens Financial Services. “We already finance a number of Damen-built vessels for other shipowners, making this partnership a natural progression. Our expertise in the leasing and marine markets, combined with our commitment to customer service, enabled us to structure this finance arrangement. Our Marine Finance offering has come a long way in a short time and having partners like Damen points to a bright future.”

Damen Shipyards Group has been in operation for over ninety-five years and offers maritime solutions worldwide, through design, construction, conversion and repair of ships and ship components.

Damen operates 35 shipyards and 20 other companies in 20 countries, supported by a worldwide sales and service network.

Established some 12 years ago, DSL has a strong track record of working with both financial institutions and maritime companies. It has provided lease financing to over 100 vessels generating over half a billion euros in sales value for Damen Shipyards Group. DSL’s approach is characterised by offering leasing solutions to customers that are in the start-up or scale-up phase. With limited down payment requirements, lessees are given the opportunity to build their businesses. By participating in the financial risk of a client’s operation, DSL demonstrates its confidence in the possibilities for its clients to operate efficiently using Damen vessels.

The B2B financing arm of Siemens, SFS provides financing that makes a difference. SFS empowers customers around the globe to access technology with the aim of increasing their competitiveness. Based on its unique combination of financial expertise, risk management and industry know-how, SFS provides tailored financing solutions across a range of industries, paving the way for enhanced industrial productivity, smart infrastructure and sustainable mobility, thereby facilitating the energy transition and enabling high-quality healthcare.