eShipfinance co-founders Dagfinn and Marina in conversation with ElNavi.
Aiming at finance projects that not only deliver returns but also contribute to long term sustainability and
growth eShipfinance has supported industry – specific projects effectively and consistently.
In the interview that follows Dagfinn Lunde, Chairman & Co-Founder & Marina Tzoutzouraki Chief
Financial Officer & Co-Founder of eShipfinance, explain how differentiated financing methods can help you
to navigate the market and provide flexible terms and describes the company’s consistency approach in
green transition.
– Despite AI and other technologies, do you agree that ship finance is still considered a people’s business? How do you cope with ship finance loan structures, terms, and mitigation of risks in this context?
– Shipping remains deeply rooted in relationships and collaboration. While AI and other technologies facilitate analysis and synthesis, they serve to enhance processes rather than replace the human aspect of finance. At eShipfinance.com, we work closely with a global network of 50+ financiers and investors to finance projects through our platform.
When structuring loans/equity investments, we balance the requirements of shipowners with the risk profiles and goals of the most suitable financiers from our network. Long-standing industry relationships coupled with our own experience help us to navigate the market and provide flexible terms while mitigating risk.
– US and European banks focus on decarbonization, while we see less of that in the East through alternative finance. What is your institution’s strategy in the energy transition of shipping?
– Shipping carries over 80% of global trade and is already among the most energy efficient modes of transporting
goods. The green transition and associated goals involve several unexplored complexities, and we believe it is best to adopt a pragmatic and informed approach, monitoring and learning from ongoing research and outcomes.
While Banks must adhere to new regulations, alternative financiers can be more flexible and adopt a slower, more systematic approach. With that in mind, decarbonization must be addressed across the entire global supply chain—from “well to wake.”
We believe that improving the carbon footprint of existing vessels through proper maintenance, retrofitting, and facilitating readiness for alternative fuels can help shipowners to adapt, without prematurely scrapping tonnage or resorting to emissions-heavy new builds.
– What are the most profitable projects in shipping that an institution should finance—intermodal transportation, low carbon vessels, LNG as fuel, digitalization, or other projects?
– We target various funding sources for different projects to balance risk and opportunity. With the shipping market being cyclical, projects in each sector could have their merits depending on the market conditions and geopolitical climate. The market consistently creates new opportunities, and we aim to finance projects that not only deliver returns but also contribute to long-term sustainability and growth.
– Do you believe that new requirements for more sophisticated ships and corporate operations will lead to more consolidation in the ship finance market?
– In our view, the ship finance market requires alternative and differentiated financing methods to thrive. Rather than consolidating, we believe in focusing on sectors where we can develop strong expertise. This focus allows us to support industry-specific projects effectively, avoiding the pitfalls of being a “jack of all trades, master of none.”
– Describe your organization’s initiatives to align with young people’s desire to work in an inclusive and ethically conscious industry.
-Although we are a small team, we pride ourselves on our diversity. Our eShipfinance.com team works remotely across five countries, with 40% female representation and young professionals in key roles, including two members in their early 30s. This reflects our commitment to inclusivity and empowering the next generation of industry leaders.
– What are your company’s future plans for more impactful solutions in a sector highly affected by decarbonization, autonomous vessels, and protectionism?
– At eShipfinance.com, are committed to creating the most economical and optimized maritime finance solutions
for shipowners, investors, financiers, and brokers. Our platform integrates the reliability of traditional finance methods with the efficiency and transparency of digitalization.
Additionally, we are actively involved in forums that advocate against protectionism, ensuring that we are part of
the solution in promoting open and fair trade within the shipping sector.