KfW IPEX-Bank: Financing of fleet modernisation for C. Armateurs/Cobelfret

• Two new dry bulk carriers
• Low-emission operation and modern environmental technologies

KfW IPEX-Bank is contributing to the fleet modernisation of the shipping group C. Armateurs, which is part of the Cobelfret group, with a financing of EUR 42 million.

The Swiss-based shipping company operates a modern fleet of dry bulk carriers, which supply companies in agriculture and fertiliser production, energy, construction and mining.

The funds are being used to further rejuvenate and upgrade the fleet by building two identical modern Kamsarmax¹ dry bulk carriers, which the company has ordered from the noted Japanese shipyard Oshima Shipbuilding. The vessels comply with the strict EEDI² phase 3 rating and are IMO Tier III NOx compliant.

Purpose of the facility is the fleet’s renewal and modernization to enhance efficiency and reduce emissions in order to meet the increasingly strict requirements of the IMO and charter companies.

The ships will be delivered in Q4 2024 and are already assigned to long-term charter contracts.

“We are delighted to further develop our long-standing customer relationship with the Cobelfret Group and are pleased to support the renewal of their fleet in pursuit of environmentally friendly and sustainable freight transport by sea”, stated Andreas Ufer, Member of the Management Board of KfW IPEX-Bank. “With this financing, we are once again underscoring our commitment to supporting our customers in their transformation to climate-friendly and CO2-efficient shipping.”

¹ Size designation for ships that are still able to call at the Kamsar Bauxite Container Terminal in Guinea, West Africa
² Energy Efficiency Design Index: indicates the CO2 emissions per tonne of cargo and nautical mile travelled