Icelandic fishing company Bergur-Huginn has been issued a loan from Export Credit Norway in connection with delivery of the Vestmannaey stern trawler from Vard’s Aukra facility in Norway.
The delivery of the Vestmannaey trawler is the first of seven identical vessels ordered from Vard’s shipyard in Aukra, Norway. The buyers are a consortium of four Icelandic fishing companies. The six remaining vessels are expected to be delivered during the second half of 2019.
“Well done to Vard Aukra who has secured this valuable newbuild contract of seven vessels,” said Olav E. Rygg, director of lending at Export Credit Norway. “The shipyard has clearly impressed the Icelandic shipowner consortium from both a technical and commercial viewpoint, and we are delighted to be able to offer competitively priced vessel financing as part of the deal.”
Export Credit Norway will provide export financing for six of the seven stern trawlers, at a total of approximately NOK500m, with the Icelandic bank Landsbankinn acting as guarantor for the loans.
The shipowners that will use financing from Export Credit Norway are Bergur-Huginn, Skinney-Thinganes, and Gjögur, who have ordered two trawlers each. The owner of the seventh vessel has secured financing elsewhere.
The vessels have been designed by Vard Design in Ålesund, Norway. Each vessel will have a length of 29m, a beam of 12m, a refrigerated cargo with a capacity of 240m3 and a fish processing area. They will be equipped with accommodation for a crew of 13 people.
Each vessel also comes with a large trawl deck with electric permanent magnet motor-driven trawl winches and a twin screw mechanical propulsion system for efficient and fuel-saving operations.
