Funding for offshore wind CTVs has been challenging, the pressures of which have led Diverse Marine to launch its own finance and lease programme.
The Diverse Marine Client Finance Programme aims to ease and overcome the challenges to ownership and operation of crew transfer vessels. The solution is a mechanism whereby the shipyard funds the construction of the vessels, giving the owner/operator the ability to “collect” the vessel on completion through term finance or long-term lease options.
Ben Colman, Director of Diverse Marine said, “The introduction of this in-house programme is the result of over 12 months of discussions with funders after listening to the needs of our clients. For UK yards to remain globally competitive, the need to talk monthly lease figures or monthly repayment figures has become more critical than capital purchase costs. The scheme is unique in how it is set up and unique in terms of the finance solution that we can offer our clients”.
Peter Curtis, an independent marine finance consultant, has been instrumental in setting up the new programme for Diverse Marine and continues to play a vital role in the day to day running and liaison with clients as Customer Finance Director. He said, “The financing of CTV’s with Diverse Marine fulfils decades of ambition with UK operators and UK shipyards and to finally be able to launch this programme is very exciting for the industry.”
Financing for an initial, but rolling, eight vessels has been allocated, with immediate effect, through the Diverse Marine Client Finance Programme with the first vessels already in build for delivery in 2024.
