Damen presents its new leasing fund for African shipowners at the first Damen Fishing Seminar

Damen will present its new vessel leasing fund, which is specifically designed for African shipowners, at the first DAMEN Fishing Seminar being held in Cape Town, South Africa on 22 November, the company said in its press release.

Damen Finance Manager, Francesco Verschuren, who will speak at the Seminar and is a specialist in financing in Africa, comments: “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.” DAMEN has delivered more than 1,200 vessels to customers in Africa over the years.

Each lease agreement is tailormade for the customer, he stresses. The customer begins by chartering the vessel for a certain number of years, while at the same time repaying the loan and the applicable interest. They then have the option to purchase the vessel during the tenor of the agreement and the obligation after the repayment period.

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.

Africa Ship Leasing was established in May 2018 and 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.

Mr Verschuren will be available to answer any questions during the conference and to explain the possibilities in more detail on a one-to-one basis.

Additionally, Mr Verschuren can outline more traditional financing arrangements. DAMEN works closely with Atradius DSB, the official Export Credit Agency of the Netherlands.

Through holding the first Fishing Seminar DAMEN is aiming to create a platform whereby the industry can come together with the government and exchange information about the latest developments in the sector and the new technologies and innovative ideas driving the growth of a sustainable fishing industry.

Leading industry figures and representatives from the Department of Trade & Industry and the Department of Agriculture, Forestry and Fisheries will be attending the event.

The programme kicks off at 0900 hours on November 22 with guest registration at DAMEN Shipyards Cape Town. After the speeches there will be time for questions and the afternoon session will be followed by a tour of DAMEN Shipyards Cape Town and a cocktail hour.

About DAMEN Shipyards Cape Town (Pty) Ltd:

Damen Shipyards Cape Town (DSCT) builds ships in Africa for Africa. To date, the yard has constructed & delivered 40 vessels to the African continent from its base in Cape Town, including offshore patrol vessels, dredgers, tugs, naval craft and platform supply vessels, some of which have been built for stock in order to ensure fast delivery. The DSCT Services & Repairs department has provided training, delivery, maintenance & repairs assistance to countries across the globe and especially to African countries seeking to source high quality services from South Africa.

Through thorough research, on-going evaluations and customer feedback, DSCT’s vessels are of the highest international quality standards and provide customers with the assurance of generations of proven high-tech commercial off-the-shelf (C.O.T.S) vessels.  

Damen Shipyards Group
Damen Shipyards Group operates 35 shipbuilding and repair yards, employing 12,000 people worldwide. DAMEN has delivered more than 6,000 vessels in more than 100 countries and delivers some 160 vessels annually to customers worldwide. Based on its unique, standardised ship-design concept DAMEN is able to guarantee consistent quality.

Damen’s focus on standardisation, modular construction and keeping vessels in stock leads to short delivery times, low ‘total cost of ownership’, high resale values and reliable performance. Furthermore, DAMEN vessels are based on thorough R&D and proven technology.

Damen offers a wide range of products, including tugs, workboats, naval and patrol vessels, high speed craft, cargo vessels, dredgers, vessels for the offshore industry, ferries, pontoons and superyachts.

For nearly all vessel types DAMEN offers a broad range of services, including maintenance, spare parts delivery, training and the transfer of (shipbuilding) know-how. DAMEN also offers a variety of marine components, such as nozzles, rudders, winches, anchors, anchor chains and steel works.

Damen Shiprepair & Conversion (DSC) has a worldwide network of eighteen repair and conversion yards of which twelve are located in North West Europe. Facilities at the yards include more than 50 floating and (covered) drydocks, the largest of which is 420 x 90 metres, as well as slopes, ship lifts and indoor halls. Projects range from the smallest simple repairs through Class’ maintenance to complex refits and the complete conversion of large offshore structures. DSC completes around 1,300 repair and maintenance jobs annually, both at yards as well as in ports and during voyages.