Maritime Industries

Tanja Georg, Director & Team Head Maritime Industries at KfW IPEX-Bank, talks with Christian A. Schilling LL.M., about the German Maritime Export Initiative and its key benefits for suppliers and shipowners.

Tanja Georg, Director and Team Head Origination & Structuring, Maritime Industries, and Stephan Vetter, Vice President Debt Origination & Structuring APAC, Maritime Industries, are featured in a Capital Link video podcast. They share their expertise and experience in retrofit financing and explain how KfW IPEX-Bank supports companies in making their ships more environmentally friendly and energy efficient.

KfW IPEX-Bank supports the switch to new energy sources for propulsion in shipping, for example by financing a new LNG-powered fast ferry for Tallink.

KfW IPEX-Bank supports the reduction of emissions despite long investment phases in the maritime industry, for example through the financing of retrofit equipment for Quantum Pacific Shipping.

KfW IPEX-Bank supports manufacturers of the GEMAX initiative as well as other European suppliers, for example by financing two cement carrier newbuilds for Baltrader Capital.

KfW IPEX-Bank supports inland navigation and thus the ecologically sound inland transport of goods on waterways, for example by financing four river gas tankers for INEOS Group.

Inclusion of scrapping clauses in loan agreements

The aim of the initiative is for shipping companies to observe minimum standards of occupational safety and environmental protection when scrapping their ships, and therefore to view scrapping as part of their own value-added chains. The banks ABN Amro, ING and NIBC established the initiative.

KfW IPEX-Bank has endorsed the Poseidon Principles, the global framework for responsible maritime finance. This is a further step to continuously develop the sustainability framework of KfW IPEX-Bank in financings for the maritime industry.

GeMaX helps shipbuilders and the maritime supply industry increase their sales opportunities around the globe.