ShippingWatch

German state-owned bank behind new RAL ships

German state-owned development bank KfW is supplying the financing of Royal Arctic Line's five new ships, an order that has finally been settled following a period of delays. Now the shipping company will be able to comply with the coming Arctic Code.

Photo: Royal Arctic Line

When Royal Arctic Line's five new ships are built at the Polish Remontowa shipyard, the process will be backed by the German development bank KfW. This spring, the state-owned bank announced plans to provide bigger loans for the shipping sector, after several large shipping banks have rolled back their loans following the crisis in the industry. And besides, Royal Arctic Line and KfW have worked together before.

Back when the shipping company contracted ships from German yard P&S Werften, which then went bankrupt, the bank also supplied the financing, CEO Jens Andersen tells ShippingWatch.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Sea Cargo Charter hesitates to raise climate ambitions

The climate ambitions of the Sea Cargo Charter initiative have been criticized by several members, but it seems they still don’t stand to be raised, Chair Jan Dieleman tells ShippingWatch. For over a year, the initiative has considered raising the bar.

Further reading

Related articles

Latest news

See all jobs