The upgraded CTV SeaZip 5 takes ship aboard the MV Vertom Joy for transport across the North Atlantic to a new, challenging offshore project.
Part of the JR Shipping Group, SeaZip Offshore Service has been responsible for the operation of 7 offshore service vessels since early 2023, majority of which are Crew Transfer Vessels (CTVs), and is responsible for the commercial and/or technical management of various third-party vessels.
SeaZip Offshore Service upgraded and renovated four of the SeaZip fleet over the last two years: doubling the capacity from 12 PAX (passenger places) to 24 PAX per vessel.
Finance was initially raised through JR Ship Investments with the issue of bonds to existing investors in the SeaZip Offshore Service fleet followed by the issuing of SeaZip Bonds in September 2023.
JR Ship Investments was also successfully involved in financing the SeaZip 7 and 8 and in the purchase and financing of SeaZip 9.Approximately 60 bonds per vessel with a face value of €25,000 were issued attracting a fixed interest rate of 7.5% per year on the first mortgage right on one of the vessels and realising refinancing capital of over €6 million in all.
All available bonds were placed with both existing and new investors within the space of two months. Investors stated interest in investment projects with a sustainable dimension with offshore wind being cited by many as an important sector.
