Damen will present its new vessel leasing fund, which is specifically designed for
African shipowners, at the first Damen Fishing Seminar being held in Cape Town,
South Africa on 22 November.

Damen Finance Manager, Francesco Verschuren, who will speak at the Seminar
and is a specialist in financing in Africa, comments: “The new fund is particularly
interesting for smaller, private fishing vessel owners. We are using our years of
experience to support them with their vessel financing based on a leasing
agreement.” Damen has delivered more than 1,200 vessels to customers in Africa
over the years.

Each lease agreement is tailormade for the customer, he stresses. The customer
begins by chartering the vessel for a certain number of years, while at the same
time repaying the loan and the applicable interest. They then have the option to
purchase the vessel during the tenor of the agreement and the obligation after the
repayment period.

The Damen fund, ‘Africa Ship Leasing’, gives shipowners an option when they
don’t necessarily have the cash to make a large down payment on a vessel which
is the case in traditional financing arrangements with a bank, or when local
financing solutions are not available.

Flexible & tailormade

“By making use of the Africa fund, customers can own a state-of-the-art Damen
vessel in just a few years and tap into new business opportunities straightaway.
Financing a new vessel from the fund has the advantage of being both very
flexible and each lease agreement is custom-made to the shipowner’s
requirements,” emphasises Mr Verschuren. The vessel can be built locally at
Damen Shipyards Cape Town or at one of Damen’s shipyards worldwide.

Africa Ship Leasing was established in May 2018 and is already assisting owners
in both Nigeria and Angola. Financing is available in both Euros or USD Dollars,
and Africa Ship Leasing is partnering first class Dutch banks.
Mr Verschuren will be available to answer any questions during the conference
and to explain the possibilities in more detail on a one-to-one basis.
Additionally, Mr Verschuren can outline more traditional financing arrangements.
Damen works closely with Atradius DSB, the official Export Credit Agency of the
Netherlands.

Through holding the first Fishing Seminar Damen is aiming to create a platform
whereby the industry can come together with the government and exchange
information about the latest developments in the sector and the new technologies
and innovative ideas driving the growth of a sustainable fishing industry.
Leading industry figures and representatives from the Department of Trade &
Industry and the Department of Agriculture, Forestry and Fisheries will be
attending the event.