KfW IPEX-Bank finances two new cement carriers for shipping company BALTRADER
News from 2019-05-02 / KfW IPEX-Bank
KfW IPEX-Bank is financing two new cement carriers for BALTRADER Capital, a mid-sized company from Hamburg. The Fujian Southeast Shipyard in China has been tasked with building the new vessels. The EUR 15.7 million financing is covered by a Chinese export credit guarantee from Sinosure.
The CemCoaster and CemClipper cement carriers are designed to allow a future upgrade to dual fuel operation, so that they can later run on liquefied natural gas (LNG) or marine gas oil (MGO) without any complications.
The ships were developed in Germany by SDC Ship Design & Consult, a member of the German Maritime Export Initiative (GeMaX), in partnership with BRISE Group’s project engineering team. Both vessels are optimised for the European short sea trade and will be able to boast a long list of futuristic and eco-friendly features, primarily conceived with German and European manufacturers in mind. The centrepiece is the pneumatic self-discharging system. The system can either be powered by the main engine’s shaft generator or the auxiliary generators. Compared with conventional mini-bulkers, this closed system offers decisive benefits – such as all-weather, zero-emissions loading and unloading capability – for the transportation of loose cement, ground granulated blast-furnace slag and fly ash. Along with the operational and safety aspects, the design is geared towards low fuel consumption – particularly in the hull lines and propulsion train.
BALTRADER is one of Europe’s leading maritime cement logistics companies. In partnership with BRISE Group (also based in Hamburg), BALTRADER operates ten of its own pneumatic self-discharging cement carriers and provides a comprehensive range of commercial and consulting services for clean, economical and punctual maritime cement transport. Once it receives the two new ships, the BALTRADER fleet will have grown to 12 cement carriers, all with pneumatic self-discharging systems.
In providing the financing and spurring involvement from GeMaX Initiative manufacturers and other European suppliers, KfW IPEX-Bank is helping to promote the German and European economy while supporting Hamburg-based mid-sized company BALTRADER.