Damen launches division Financial Services

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March 5, 2021

Press Release – As of April 1, 2021, Damen Shipyards Group will start a specialised Financial Services division. This unit supports clients in the financing of new ships by means of both operational and financial lease constructions.

In itself it is not new that Damen assists its clients in attracting financing for new ships. This has been happening for thirty years. “However, the demand for lease solutions is increasing,” explains Jan Willem van Helden, managing director of Damen Financial Services. “By making it a separate entity within the group, we can work with external investors, banks and specialists to optimise our offering on both a large and a smaller scale, with ships and services as one package.”

Ship-as-a-Service

The advantage for Damen’s customers is that they can treat their capital investment as  operational costs (OPEX). For Damen, the extra service means that a broader package, including maintenance, is offered, so that, for example, better management can be done towards a more sustainable use of the ships. Jan Willem van Helden: “Ship-as-a-Service and circularity in shipbuilding come a step closer. Moreover, the new service means that, from a governance perspective, we have a better overview of how the financing works.”

New business models

The working method of the new division opens the way to new business models for Damen Shipyards Group. “In the past, we would first sell a ship and then support our customer with the financing structure,” explains Jan Willem van Helden. “In the new set-up, the operating structure and financial framework are created first, after which customers are approached to purchase ships. This generally include a long term, low risk element such as a concession or charter contract.”

Damen expects to be able to announce the first tangible projects of the new division shortly.

Damen Shipyards Group

Damen Shipyards Group has been in operation for over ninety years and offers maritime solutions worldwide, through design, shipbuilding, ship repair and related services. Damen operates 36 shipyards in 18 countries and offers direct employment to more than 13,000 people.

Damen’s values are fellowship, craftsmanship, entrepreneurship and stewardship. The company aims to be the most sustainable shipbuilder in the world, via digitalisation and standardisation of its products. Damen’s main activities are the design and serial construction of innovative ships by integrating diverse components and subsystems into high-quality platforms. These activities are supported by a worldwide sales and service network.

Damen is also active in the repair and conversion of existing ships and the sale and production of components for the maritime industry.

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