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Vogemann launches OPEX guarantee scheme

Germany’s H. Vogemann shipping group has launched an operating expenditure (OPEX) guarantee scheme for owners of dry bulk and multipurpose vessels.

The guarantee itself is based on a predefined budget and covers cost items for technical management such as crew, maintenance, stores, lubricants and so on for ships technically managed and manned by Vogemann.

The scheme guarantees up to a maximum of $182,500 for a revolving period of one-year, which Vogemann said is approximately 150% of the vessel’s management fee.

The guarantee contains not only the amount of OPEX but also a maintenance-level warranty that will be controlled by a third-party surveyor.

“It was our aim to create a straight, clear and fair product, therefore the maintenance level must be watched closely since a lower OPEX could also be achieved by neglecting the condition of the vessel,” said Jens Arndt, group managing director of H Vogemann.

The guarantee scheme has been designed in connection with warehouse solutions for banks or investors that
need reliable cost planning and reliable performance from their managers, the company said.

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Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.
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