KfW IPEX finances Carisbrooke’s diesel-electric ships

Germany’s KfW IPEX-Bank has decided to support the fleet renewal program of the British shipping company Carisbrooke Shipping with financing amounting to around €26 million.

As informed, the funds will be used to finance the construction of two identical 7,700 dwt general cargo vessels, which the company ordered from Thecla Bodewes Shipyards in the Netherlands.

The financing is covered by the Dutch export credit insurance company Atradius.

The ships of the so-called ‘Labrax’ series have diesel-electric propulsion systems that are designed for fuel efficiency and sustainability, as well as an innovative bow shape that also contributes to a good carbon footprint.

A future conversion of the engines to CO2-neutral liquid fuels is possible. The ships are scheduled for delivery in 2026 and will be deployed in the European shortsea shipping.

“We are very pleased to support our new customer Carisbrooke Shipping in this European project with our financing and to support its fleet renewal for environmentally friendly and sustainable maritime freight transport,” Andreas Ufer, Member of the Management Board of KfW IPEX-Bank, commented.

“With this financing, we are once again emphasising our commitment to supporting our customers in the transformation to climate-friendly and CO2-efficient shipping.”

In related news, KfW IPEX-Bank revealed earlier this month it would partially finance Hapag-Lloyd’s newbuilding program. The world’s fifth-largest carrier recently ordered a total of 24 new container ships in two size classes. KfW IPEX-Bank is providing the financing for three 9,200 TEU newbuilds totaling around $281 million as part of this major project.

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