Damen will present its new vessel leasing fund specifically designed for African shipowners, at the first Damen Fishing Seminar being held in Cape Town, South Africa on 22 November.
The idea is that the Damen fund, ‘Africa Ship Leasing’, gives shipowners an option when they don’t necessarily have the cash to make a large down payment on a vessel which is the case in traditional financing arrangements with a bank, or when local financing solutions are not available.
“The new fund is particularly interesting for smaller, private fishing vessel owners. We are using our years of experience to support them with their vessel financing based on a leasing agreement,” said Francesco Verschuren, finance manager, Damen.
Flexible & tailormade
Mr Verschuren said that each lease agreement is tailormade for the customer, with the customer beginning by chartering the vessel for a certain number of years, while at the same time repaying the loan and the applicable interest.
They are then given the option to purchase the vessel during the tenor of the agreement and the obligation after the repayment period.
Africa Ship Leasing is already assisting owners in both Nigeria and Angola. Financing is available in both Euros or USD Dollars, and Africa Ship Leasing is partnering first class Dutch banks.
Damen’s first Fishing Seminar Damen is aims to create a platform whereby the industry can come together with the government and exchange information about the latest developments in the sector.
