Norwegian-based ballast water treatment (BWT) specialist Optimarin has launched a leasing option within the BWT segment as a response to the growing need for more flexibility in financing solutions.
The company said that the leasing option is the first of its kind in the segment and comes amid challenging market conditions shipowners and ship operators are faced with due to the economic impact of the coronavirus pandemic.
“The need to comply with IMO and USCG regulations is not going away,” Optimarin EVP Tore Andersen said. “Mandated vessels must have the required BWT systems to operate, today, tomorrow and far into the future.
As explained, the economic uncertainty arising from the pandemic’s impact could make it difficult for owners to invest in new systems and technology. On the other hand, potential delays in installation could result in owners paying heavy fines for non-compliance with international regulations.
“This has the potential to be a real problem,” he said.
To that end, Optimarin has partnered up with a UK-based finance company offering the opportunity to its clients to split payments into small, manageable monthly amounts.
Optimarin added that no payment or deposit is required up front and all servicing and spare parts can be included in a simple, comprehensive package. Interest rates, Andersen says, are in line with competitive bank financing, without the complex requirements and demands.
“There are many, many excellent shipping firms that may struggle to satisfy banking covenants in an investment atmosphere that is increasingly risk-averse,” he comments. “However, we have the partners and belief to help owners get the market-proven equipment they require to sail with complete peace of mind.”
“As a company, we’re focused on simplifying BWT for our customers – with total expertise, systems that are easy to install and operate, global service and support, and proven, long-term performance and reliability. Providing customers with flexible financing options is in keeping with that philosophy, helping owners get the technology they need without the headache of ‘jumping through hoops’ to finance it.
“We want to make BWT compliance easy for everyone. And this is a major step forward in enabling that ambition.”
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