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Arklow Shipping secures financing for bulker quartet

Arklow Shipping secures financing for bulker quartet

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Ireland’s Arklow Shipping has secured financing of around EUR51m ($60.9m) from KFW IPEX-Bank and DekaBank for four 16,500 dwt short sea bulk carriers.

The four vessels are currently under construction at Germany’s Ferus Smit Shipyard, with deliveries scheduled in 2018 and 2019, and will serve the North and Baltic Seas market.

The financing is backed by a 95% Hermes cover. In addition to its role as the mandated lead arranger, KfW IPEX-Bank is also acting as Hermes agent.

Arklow Shipping currently has a fleet comprised of 51 short sea bulkers that serve niche segments in northwestern Europe.

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Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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