KfW IPEX-Bank to finance Carnival Corporation’s LNG cruise ship

KfW IPEX-Bank to finance Carnival Corporation's LNG cruise ship
Image courtesy of Carnival Corporation

KfW IPEX-Bank said it is providing approximately €786 million ($925.8 million) for the construction of Carnival Corporation’s new LNG-powered cruise ship under construction at Meyer Werft shipyard in Papenburg, Germany. 

KfW IPEX-Bank is handling the entire structuring of the financing and taking on the roles of book runner, initial mandated lead arranger (MLA), facility agent and export credit agency (ECA) agent. The plan is to syndicate up to 80 percent of the financing amount, the bank said in its statement.

The financing has a term of 12 years from the date of delivery, and is backed by export credit insurance issued by the Federal Republic of Germany (Hermes cover) and encompasses the Commercial Interest Reference Rate (CIRR) for ships, which is determined by the Organisation for Economic Co-operation and Development (OECD).

The new to be built by Meyer Werft in Papenburg features dual-fuel engine using LNG and marine diesel, and will normally run on LNG. T

The cruise ship will be able to accommodate approximately 5,200 guests (lower berths), with the delivery scheduled for May 2022.

Share this article

Follow LNG World News

Events>

<< Jul 2019 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

LNGgc London

LNGgc is a fantastic way of raising attendees’ company profile within this market and creating greater awareness of their brand…

read more >

LNG Pricing, Trading & Hedging Singapore

LNG Pricing, Trading & Hedging training program has been completed by hundreds of leading traders, analysts, risk managers…

read more >

LNG Pricing, Trading & Hedging Houston

LNG Pricing, Trading & Hedging training program has been completed by hundreds of leading traders, analysts, risk managers…

read more >

World Gas Series: Morocco Summit

Bringing together key players in the gas value chain in Morocco, the World Gas Series:

read more >