ESMI, a credit fund advised by Hamburg-based Elbe Financial Solutions, is financing a first ship with a hydrogen-based propulsion system for Samskip.
Once delivered in the second half of 2025, the SeaShuttle-class vessel will be able to transport around 820 containers and will be deployed by Samskip on the route between Rotterdam and the Oslo Fjord. By using green hydrogen, the ship can be operated entirely without CO2 emissions. [ds_preview]
The ESMI Fund (Eurazeo Sustainable Maritime Infrastructure Fund) is one of the leading players in the financing of environmentally friendly ships and infrastructure to support and accelerate the transition to a low-carbon maritime economy. Launched at the end of 2021, the fund is now 50% invested.
The ESMI fund launched by Elbe Financial Solutions (EFS) and its French partner Eurazeo has concluded a financing agreement with the Dutch-Icelandic shipping and logistics company. The agreement combines construction period and term financing.
Samskip gets construction period and term financing
“We are very proud that our financing solution has been taken up by such a renowned company as Samskip,” says Jens Mahnke, founder of EFS. The ESMI fund aims to support operators and owners of small and medium-sized vessels in Europe with tailor-made financing solutions for innovative investments and sustainable fleet development.
The fund, which draws on investments from the European Investment Fund together with public organizations and European institutional investors, can finance three main asset classes:
- modern ships with low consumption values that reduce pollutant and greenhouse gas emissions through modern design or innovative technologies,
- port and inland waterway infrastructure that have a positive impact on the environment and promote the use of environmentally friendly energy, and
- special ships and other maritime resources for use in offshore wind farms.
Demand for the ESMI Fund’s financing offer is high. With the Samskip transaction, ESMI has now invested close to 50% of the fund’s assets.
Elbe Financial Solutions (EFS) was founded by shipping expert Jens Mahnke (former CEO of Ernst Russ AG) and Bernhard Lambilliote (founder of Ecofin Ltd., an investment firm based in London) and has offices in Hamburg and Luxembourg. Together with the Paris-based Eurazeo Group, EFS works for the ESMI fund.
