KfW IPEX-Bank: Financing for fleet modernisation of Carisbrooke Shipping

• Two new general cargo vessels
• Modern environmental technologies and low-emission operation

KfW IPEX-Bank is supporting the fleet renewal programme of the British shipping company Carisbrooke Shipping with financing amounting to around EUR 26 million. The financing is covered by the Dutch export credit insurance company Atradius.

Carisbrooke Shipping, headquartered in the UK, operates a modern fleet of multipurpose freighters and general cargo vessels. The funds will be used to finance the construction of two identical modern 7,700 dwt general cargo vessels, which the company has ordered from the renowned and long-established Thecla Bodewes Shipyards in the Netherlands, thus contributing to the further rejuvenation and modernisation of the fleet.

The ships of the so-called ‘Labrax’ series have modern diesel-electric propulsion systems that are designed for fuel efficiency and sustainability, as well as an innovative bow shape that also contributes to a good carbon footprint. A future conversion of the engines to CO2-neutral liquid propose to replace with ‘low carbon’ fuels is possible. The ships are scheduled for delivery in 2026 and will be deployed in European short sea shipping.

‘We are very pleased to support our new customer Carisbrooke Shipping in this European project with our financing and to support its fleet renewal for environmentally friendly and sustainable maritime freight transport,’ said Andreas Ufer, Member of the Management Board of KfW IPEX-Bank. ‘With this financing, we are once again emphasising our commitment to supporting our customers in the transformation to climate-friendly and CO2-efficient shipping.’