Hamburg-based Waterworks Offshore Services has reshuffled its business to exclusively serve the offshore renewable sector and to switch from a ship brokerage shop to a ship finance institution.
“Traditionally coming from Chartering and S&P in the offshore markets, Waterworks today becomes the first purely green ship finance institution which provides the renewable shipping industry with innovative ways to acquire and manage ship finance solutions in a market thirsty for a new approach”, the company said.
The company, which is now re-branding to Waterworks Offshore Concepts, has already completed its first brokered finance deals in the offshore wind and harbour assistance sectors, saying this proves the chosen strategy is accepted in the market.
As part of its new business set-up, Waterwoks Offshore Concepts will continue providing Chartering, Sale & Purchase and Newbuilding services for both its existing clients and to complement future finance transactions where useful.
“We believe that the offshore renewable shipping market needs finance solutions that match the innovative and disruptive nature of energy transition into a green future”, said Managing Director Sven Boedewig. “Hence we will develop attractive and flexible solutions with our finance partners and private equity network enabling shipowners to request finance, manage existing contracts fast and easy and open a new sustainable investment opportunity to investors”.
According to Valentin Hartmann, one of the partners at Waterworks Offshore Concepts, green ship finance will bring new solutions in the future, which will give both owners and investors more flexibility and planning security.