Macquarie Strengthens Position as Global Maritime Lender as Maritime Lending Portfolio Surpasses US $ 1 Billion
Fince four years of growth, the loan portfolio of Macquarie Group’s Shipping Finance business recently exceeded US $ 1 billion. The company, which specializes in financing small and medium-sized shipowners, has now financed more than 190 ships around the world, for a total market value of more than $ 3 billion.
Macquarie identified the opportunity to establish its maritime finance business in 2017, as many traditional maritime banks significantly reduced their exposures or exited the industry altogether. Macquarie has been able to complement his expertise in asset financing with significant maritime experience in commodities markets and established companies in working capital solutions for marine pools, freight and charter, fuel financing of bunker and fuel oil cover.
Marc Hari, Head of Macquarie Shipping Finance, explains: “The availability of conventional vessel financing from traditional banks has declined considerably in recent years. Shipowners are increasingly turning to alternative sources of finance and this is where we have seen continued demand in the market, despite the challenges faced by the global shipping industry during the Covid-19 pandemic. Macquarie is now an established, reliable and versatile financial counterparty for the shipping industry. We have proven our ability to execute transactions efficiently and are continually refining our approach and processes to better meet the needs of our clients.
Based in London and Zurich, the company typically works with shipowners with fleets of 10 to 50 vessels, providing financing for the oil tanker, bulk carrier and container segments and offering a flexible approach to customer ownership structures, geography, age of vessels, fleet size and vessel employment strategies. Macquarie Shipping Finance also works with alternative capital providers such as Fleetscape Capital Limited to help ship owners seek higher leverage situations.
The team consists of 14 industry experts, including dedicated marine legal and engineering experts. The company is also backed by the former CEO and Chairman of Overseas Shipholding Group, Morten Arntzen, who brings over 30 years of experience in shipping finance.
The company currently supplies 45 facilities financing more than 140 ships and is delighted to support its customers in the challenges posed by the decarbonization path of the industry.
“We recently completed our third successful transaction with Macquarie. The team is creative and constructive; they understand our strategy and adapt the solutions that support our business. We look forward to growing our relationship significantly in the years to come, ”said Hew Crooks, Chief Financial Officer and Partner of Ridgebury Tankers.