In July 2021, NorthCape assisted a client with the financing of 3 x large offshore wind service operation vessels (“SOV”).

In July 2021, NorthCape assisted a client with the financing of 3 x large offshore wind service operation vessels (“SOV”).

The first SOV was delivered Q4 2021 directly into a multi-year time charter with a leading European renewable energy company. The SOV’s are hybrid-electric vessels that offers best-in-class environmental performance, and is zero emissions ready with future larger battery/charging and fuel cell options. A leading Norwegian ship owner and manager will provide technical and commercial services for the vessels.

These environmentally-advanced SOV’s are well aligned with NorthCape’s ambitions to contribute to de-carbonise the maritime industry.

Marinvest

On behalf of our client, NorthCape is pleased to announce the successful closing of a ~90 % pre- and post-delivery financing for a new build Methanol MR Tanker delivering Q3 2021.

The transaction is structured as a sale and leaseback, with a 15 years bareboat contract and a 15 year back-to back time-charter to a large industrial corporation. The cost of capital is competitive, and the bareboat charterer has purchase options commencing 7 years after delivery. The transaction was started and successfully concluded under strict travel restrictions world-wide, due to the COVID-19 pandemic, without any face-to-face meetings.

Thanks to our strong relationship with trading-house Sojitz Marine & Engineering Corp., banks and ship-owners in Japan, together with a reputable and a transparent client, we managed collectively and constructively to deal with the challenges currently facing the international financial markets.