Forum for Science, Industry and Business

Sponsored by:     3M 
Search our Site:

 

KfW IPEX-Bank finances ship conversion at Blohm + Voss

09.06.2009
Ferry being turned into a special vessel for the offshore industry

KfW IPEX-Bank, acting as facility agent and collectively with BNP Paribas as mandated lead arranger, finances the conversion of a former RoRo ferry into a state-of-the-art accommodation and support vessel specially designed for the offshore industry, for the Danish shipping company J. Lauritzen.

The Blohm + Voss shipyard in Hamburg has been contracted to implement this technologically demanding and complex conversion of the "MV KRAKA" to the "DAN SWIFT".

To finance the project KfW IPEX-Bank and BNP Paribas will provide a loan in equal proportions worth a total of around USD 130 million. The financing structure includes export credit insurances from Germany (Euler Hermes) and Denmark (Eksport Kredit Fonden). The tenor of the loan is 12 years. The related loan agreement was signed today.

Christian K. Murach, responsible Managing Director of KfW IPEX-Bank, underlined the importance of the project: "A ship that was obsolete is made fit for the market again The conversion project will create a specially designed innovative vessel for which there is a stable market demand. This is yet an example of a successful response to the crisis-like developments in the shipping industry."

Although a conversion of this kind is highly complex, it is still cheaper and quicker than building a new ship from scratch. The Blohm
+ Voss shipyard in Hamburg, which has a long tradition, specialises
in such complex and challenging contracts. The conversion works in the shipyard are already in full swing. The ship is planned to be delivered to J. Lauritzen in September 2009, and then used in the offshore oil and gas industry. It will provide accommodation for around 250 workers employed temporarily on offshore units, and will be equipped with a dynamic positioning (DP) system, as well as state of the art gangways for hook up at sea, together with deck cranes and machine shop/storage areas, which will be needed for assembly, repair and breaking up works at sea.

About KfW IPEX-Bank GmbH

Within KfW Bankengruppe KfW IPEX-Bank GmbH provides project and corporate financing as well as trade and export financing domestically and abroad. Worldwide it conducts all market activities of KfW Bankengruppe that are carried out on commercial terms. KfW IPEX-Bank GmbH has been operating as a legally independent subsidiary since 1 January 2008 and contributes significantly to the promotional mission of KfW Bankengruppe. It has approx. 490 employees (as of June 2009) and is represented in the key economic and financial centres throughout the globe.

Dela Strumpf | presseportal
Further information:
http://www.kfw-ipex-bank.de

More articles from Business and Finance:

nachricht Microtechnology industry is hiring – positive developments of past years continue
09.04.2018 | IVAM Fachverband für Mikrotechnik

nachricht RWI/ISL-Container Throughput Index with minor decline on a high overall level
20.03.2018 | RWI – Leibniz-Institut für Wirtschaftsforschung

All articles from Business and Finance >>>

The most recent press releases about innovation >>>

Die letzten 5 Focus-News des innovations-reports im Überblick:

Im Focus: First evidence on the source of extragalactic particles

For the first time ever, scientists have determined the cosmic origin of highest-energy neutrinos. A research group led by IceCube scientist Elisa Resconi, spokesperson of the Collaborative Research Center SFB1258 at the Technical University of Munich (TUM), provides an important piece of evidence that the particles detected by the IceCube neutrino telescope at the South Pole originate from a galaxy four billion light-years away from Earth.

To rule out other origins with certainty, the team led by neutrino physicist Elisa Resconi from the Technical University of Munich and multi-wavelength...

Im Focus: Magnetic vortices: Two independent magnetic skyrmion phases discovered in a single material

For the first time a team of researchers have discovered two different phases of magnetic skyrmions in a single material. Physicists of the Technical Universities of Munich and Dresden and the University of Cologne can now better study and understand the properties of these magnetic structures, which are important for both basic research and applications.

Whirlpools are an everyday experience in a bath tub: When the water is drained a circular vortex is formed. Typically, such whirls are rather stable. Similar...

Im Focus: Breaking the bond: To take part or not?

Physicists working with Roland Wester at the University of Innsbruck have investigated if and how chemical reactions can be influenced by targeted vibrational excitation of the reactants. They were able to demonstrate that excitation with a laser beam does not affect the efficiency of a chemical exchange reaction and that the excited molecular group acts only as a spectator in the reaction.

A frequently used reaction in organic chemistry is nucleophilic substitution. It plays, for example, an important role in in the synthesis of new chemical...

Im Focus: New 2D Spectroscopy Methods

Optical spectroscopy allows investigating the energy structure and dynamic properties of complex quantum systems. Researchers from the University of Würzburg present two new approaches of coherent two-dimensional spectroscopy.

"Put an excitation into the system and observe how it evolves." According to physicist Professor Tobias Brixner, this is the credo of optical spectroscopy....

Im Focus: Chemical reactions in the light of ultrashort X-ray pulses from free-electron lasers

Ultra-short, high-intensity X-ray flashes open the door to the foundations of chemical reactions. Free-electron lasers generate these kinds of pulses, but there is a catch: the pulses vary in duration and energy. An international research team has now presented a solution: Using a ring of 16 detectors and a circularly polarized laser beam, they can determine both factors with attosecond accuracy.

Free-electron lasers (FELs) generate extremely short and intense X-ray flashes. Researchers can use these flashes to resolve structures with diameters on the...

All Focus news of the innovation-report >>>

Anzeige

Anzeige

VideoLinks
Industry & Economy
Event News

Leading experts in Diabetes, Metabolism and Biomedical Engineering discuss Precision Medicine

13.07.2018 | Event News

Conference on Laser Polishing – LaP: Fine Tuning for Surfaces

12.07.2018 | Event News

11th European Wood-based Panel Symposium 2018: Meeting point for the wood-based materials industry

03.07.2018 | Event News

 
Latest News

Leading experts in Diabetes, Metabolism and Biomedical Engineering discuss Precision Medicine

13.07.2018 | Event News

Research finds new molecular structures in boron-based nanoclusters

13.07.2018 | Materials Sciences

Algae Have Land Genes

13.07.2018 | Life Sciences

VideoLinks
Science & Research
Overview of more VideoLinks >>>