Marina Tzoutzouraki & Dagfinn Lunde featured in ElNavi November Shipping Review

eShipfinance.com has enriched its financing sources with 50 different lenders.

Building on a foundation of more than 200 years of excellence, eShipfinance.com has assisted shipowners/borrowers to create projects online in a quick and efficient way taking advantage of various financing options of nearly 50 different lenders. In the interview that follows Dagfinn Lunde Chairman & Marina Tzoutzouraki Chief Financial Officer of eShipfinance.com describe the functionality of benefits of the platform and explains the importance of ESG criteria in ship financing.

– Geopolitical events and sanctions have created complexity. Do you focus on cautious investing policy for granting financing project?
– Shipping is one of the most efficient markets. Any disruptions in trade flow due to geopolitics or sanctions mean that cargo must find a new route, which usually costs more since it needs to come from further away. This increases ton-mile demand and is usually good for shipping. Historically, geopolitics unfortunately always impacts shipping in a positive manner. The new sanctions imposed on Russia in wake of the Russia Ukraine war have created an additional administrative burden and a new layer of due diligence on lenders which is done not only during onboarding but also during the length of the loan. While client liquidity, balance sheet and historical performance of the company play an important role in a project assessment, the dynamics of the requested financing are the focus.

– Regarding the various shipfinance services & solutions, are you involved in Bank debt, leasing, institutional investors, private equity, refinancing, restructuring, stock exchange listings and more?
– While eShipfinance.com started as a senior debt platform, we have expanded our services to meet the wider spectrum of our clients’ requirements. In doing so, we have relationships with nearly 50 different lenders which include banks, leasing houses, institutions, family offices, private equity etc. We facilitate the best fit structures for borrowers and lenders.

What is your organisation strategy in regards to the decarbonisation targets and energy transition in shipping?
– We would be happy to finance new technology or retrofitted vessels provided that the cashflow results show a profitable project. We will look into any project that makes economic sense, because financing the transition period is equally important as financing the ships of tomorrow.

Describe the role of the human factor in the shipfinance sector.
– The human-factor is extremely important for the ship finance business, but the way we interact is changing fast. It has happened in retail banking, aviation, shopping etc and is now coming to maritime. Deep knowledge of the shipping industry coupled with sufficient experience is required for a healthy shipping portfolio to be built. eShipfinance.com is built on the foundations of our 200+ years of industry experience. It is an intuitive platform with a seamless process flow and interface, making it easy for shipowners/borrowers to create projects online in a quick and efficient way without any prior training on the technology. The platform also offers standardized auto-generateddocuments which save time and costs for borrowers while allowing them a deeper insight into the viability of their projects. Currently we are focused on further developing the eShipfinance.com Software Suite that will assist any financial institution by providing an end-to-end robust and resilient technology ecosystem to build a healthy portfolio efficiently.

– Describe your company’s plans.
– Our company continues to evolve, we have moved from a one ship senior debt project platform to a multi vessel uni-tranche platform. We support flexible investment structuring, across any part of the capital structure. Adding to the existing sector coverage, we have incorporated gas, pctc, offshore and cruise projects in recent times. We believe the UN Sustainable Development Goals offer a moral guideline for our business strategy, which currently aligns directly with at least 5 SDG Targets. ESG criteria and considerations for our global lender network differ and are in the process of being defined. We keep evolving and adapting to meet the new challenges of shipping.

 

This interview was featured on Page 60 of the ElNavi November Shipping Review, November 2023 edition.

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