GBI Shipping Finance Team strives to provide exclusive financial solutions to clients owning deep-sea ships in the main shipping segments such asdry bulk, wet bulk and containerships. GBI’s client-base consists of financially strong, medium sized shipping companies with a proven track record. GBI responses the needs of its customers by offering a full range of financial services including pre- and post delivery financing for newbuildings, financing for secondhand ships, cash management services, letter of credits and bank guarantees. In addition, GBI facilitates the entire process with all that is required for “closing” the transfer of the legal title of a ship, including opening of necessary accounts.
Shipping Finance Products at a Glance :
Throughout the ship construction, there are many significant milestones achieved like signing of the building contract, steel cutting, keel-laying, launching and delivery. At those milestones the builder usually requires partial payment of the contract price of the ship. GBI provides financing during the construction secured by assignment of the building contract and refund guarantees, issued by reputable financial institution.
At delivery of vessels from the shipyard, GBI provides a loan facility covering a certain percentage of the contract price. The percentage advanced depends on a series of factorslike contract price, the shipyard, financial strength of the ship owner and so on. The loan facility is usually secured by a 1st priority mortgage over the ship, assignment of insurances, earnings and earnings account. The repayment term, commonly 12-14 years, varies according to the ship type (dry bulk, wet bulk or containership) and the size.
Second hand financing
GBI also offers financing for second handships atmaximum age of 15 years. The loan facility is usually secured by a 1st priority mortgage over the ship, assignment of insurances, earnings and earnings account.
ECA covered transactions
In various countries the local shipbuilding industry is supported by export credit agencies, providing funding on favourable terms and conditions. GBI renders service to shipowners in structuring ECA covered transactions and provides full support for all that is required to comply with the requirements of such transactions.
It goes without saying that shipping clients are also provided other products GBI offers like cash management, letter of credit’s, bank guarantees, private banking services and so on.
Peter de Jong
Phone: +31 20 553 9811
Fax: +31 20 553 9905