KfW IPEX-Bank holds equipment-based vessel financing conference
- Business & Finance
At the start of April 2014, 70 representatives of the maritime industry responded to KfW IPEX-Bank’s invitation to attend the “Second conference for equipment-based vessel financing” held in Frankfurt, where they discussed ways of boosting Germany’s share of supplies for global new-builds by way of additional longer-term financing.
The conference participants included representatives of 22 maritime companies from Korea, the Netherlands, France, Austria and Germany. Representatives of Germany’s Federal Ministry for Economic Affairs, Norway’s DNB Bank ASA and the German export credit insurer Euler Hermes were also in attendance.
Exports in the offshore oil and gas industries harbour tremendous sales potential for German industry. Often, the availability of long-term financing for these large projects plays a key role in whether or not they are successful in terms of sales. While state financial institutions and the maritime supply industry have built up a successful partnership over decades in other countries such as Norway, a great deal of coordination is still required in Germany given that the supply industry is far more fragmented.
The issues currently faced by the industry were examined in a number of presentations. Dr Carsten Wiebers, Global Head of Maritime Industries at KfW IPEX-Bank, proposed ways of raising Germany’s maritime supply potential. His proposals centred on the “virtual system integrator for German maritime supplies”. From a pool of more than 450 companies, this computer tool identifies suppliers that cater to particular vessel types in the offshore industry and compiles them in a “German Master Makers’ List”.
The participants discussed specific sales opportunities and common links in an international marketplace with representatives of KfW IPEX-Bank’s representative offices in Singapore, Mumbai, Moscow, Johannesburg, São Paulo, Mexico and New York.
The event was rounded off with a lively discussion in which participants stressed just how beneficial and important it would be to have a German maritime export initiative.
Press Release, April 10, 2014