Insuring export business as bank
Ship financing requires customized cover as basis of competitive financing schemes for German shipyards and their suppliers. The flexible solutions available within the framework of Hermes Cover make cover both of new ships (e.g. passenger ships, container vessels, oil tankers and product tankers, roll-on-roll-off ferries, etc.) and, for example, the conversion of an existing ship possible.
To cover ship financing Supplier Credit Guarantees and/or Buyer Credit Guarantees are used. Besides, a combination with other forms of cover (e.g. manufacturing risk cover, contract bond cover, Counter-guarantees) is possible.
- Supplier credit cover: German export firms from the shipbuilding industry
- Buyer credit cover:
- German banks
- German branch offices of foreign banks
- Foreign banks (under certain conditions)
Payment terms of the covered transactions
Medium/long-term (up to 12 years)
Premium is calculated according to specific rules (details will be provided on request).
- Under supplier credit cover
- 5 % for political risks
- normally 15 % for commercial risks
- Under buyer credit cover 5 % for all risks
For advice please contact
Mr Wolfgang Knur, phone: +49 (0) 40 / 88 34 - 95 17
Mr Wolfgang Issel, phone: +49 (0) 40 / 88 34 - 95 78
Mr Peter Smida, phone: +49 (0) 40 / 88 34 - 91 98