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Thursday, May 6, 2021

Damen, Purus Marine Offering Green Financing

Maritime Activity Reports, Inc.

April 16, 2021

(Photo: Damen)

(Photo: Damen)

Damen Shipyards Group is partnering with Purus Marine, an environmentally focused maritime vessel and infrastructure company established by EnTrust Global for the financing of green shipping projects. The partnership, named DP Lease, aims to support decarbonization of the maritime industry by providing flexible and attractively priced long-term lease financing solutions to solve the financing gap created by additional capital expenditure requirements associated with the purchase of environmentally-advanced vessels.

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

Svein Engh, Senior Advisor and Board Member to Purus Marine, said, “We are delighted to team up with the well-established team at Damen to provide much needed leasing solutions to vessel owners looking to decarbonize 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.”

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 harbor and terminal. Subsequently, this will extend to include inland and short sea shipping. The timing for this is excellent as the partnership will be able to support the numerous public transport contracts that are forthcoming in north west Europe.

Julian Proctor, CEO of Purus Marine, says, “We believe DP Lease will provide its customers with bespoke vessel financing, which is not only cost-effective, but also produces a significant positive environmental impact. With its track record in the construction of fully electric tugs, ferries and dredgers and its practice of standardised shipbuilding, Damen is well positioned to facilitate the fast delivery of a reliable fleet of sustainable vessels.”

The launch of DP Lease follows Damen’s recent announcement of 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. This move is a response to growing demand for financing solutions from Damen’s clients, enabling them to treat capital expenditures as operating expenses, the company said.

Damen’s partner in DP Lease, Purus Marine, is an owner of environmentally-advanced maritime vessels and infrastructure equipment, contracted to leading customers in the ocean industries. Purus Marine was established by EnTrust Global, a leading asset management firm with over $19 billion in assets.

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