Damen, Purus Marine partner up to finance green ships

Dutch Damen Shipyards Group has teamed up with Purus Marine, a newly formed, environmentally focused maritime vessel and infrastructure company, to finance green shipping projects.

The partnership, named DP Lease, aims to provide long-term lease financing solutions to solve the financing gap created by additional capital expenditure requirements associated with the purchase of environmentally advanced vessels.

As explained, DP Lease aims to support the decarbonization of the maritime industry.

“DP Lease will help clients to renew their fleets by means of highly sustainable vessels and lease finance solutions,” Jan-Willem van Helden, managing director of Damen Financial Services, said.

“This will help them comply with forthcoming regulations as well as demands from end users, shareholders and other stakeholders, via investment in technologically-advanced low greenhouse gas emission marine vessels.”

“We are delighted to team up with … Damen to provide much needed leasing solutions to vessel owners looking to decarbonise and provide end users with greener vessels for the future. We believe this partnership structure is very creative and look forward to helping the various maritime sectors move towards a greener future,” Svein Engh, Senior Advisor and Board Member to Purus Marine, commented.

The partnership will own environmentally-friendly Damen-built vessels which will then be leased to the shipbuilder’s clients. The partnership will invest in a number of sectors, including public transport, offshore wind, and harbour & terminal. Subsequently, this will extend to include inland and short sea shipping.

The timing for this has been described as excellent as the partnership will be able to support the numerous public transport contracts that are forthcoming in north west Europe.

The launch of DP Lease follows Damen’s recent announcement on the creation of its latest division, Damen Financial Services. With this new business unit, Damen is supporting its clients by means of both operational and financial leasing.

EnTrust Global launches Purus Marine

On 15 April, EnTrust Global, a leading asset management firm, separately announced the launch of Purus Marine, a maritime holding company that owns environmentally advanced vessels and infrastructure equipment, contracted long-term to high-quality end users.

The company serves a wide variety of maritime sectors, including the industrial shipping, short-sea, ferry, offshore wind and environmental remediation sectors.

Specifically, Purus Marine’s fleet is expected to reduce the carbon emissions and ocean pollution of its customers by using low-to-zero carbon fuel technologies, energy-saving devices as well as design and operational efficiencies.

“We are excited to launch Purus Marine and make an immediate and measurable impact on reducing carbon emissions and pollutants from the maritime industry. Our mission is to support the industry’s transition to a zero-carbon and sustainable future,” Gregg S. Hymowitz, CEO and Chairman of EnTrust Global and Chairman of the Board of Purus Marine, said.