KfW IPEX-Bank finances two innovative high-tech ships for Dutch shipping company RollDock

Frankfurt am Main (ots) -

- A consortium of banks led by KfW IPEX-Bank is financing the 
     construction of two special vessels at the German FSG shipyard 
     in Flensburg
   - Heavy lift transporter at sea: ro-ro semi-submersible dock 
     carrier
   - Use in offshore industry

With a loan of EUR 74 million a consortium of banks led by KfW
IPEX-Bank is supporting the construction of two ultra-modern special
transporters to be built at the Flensburg-based FSG shipyard for the
Dutch heavy lift shipping company RollDock. KfW IPEX-Bank contributes
EUR 37 million to the financing. The Dutch banks ABN AMRO and
Rabobank provide EUR 18.5 million each. The total financing has been
arranged by KfW IPEX-Bank and is covered by an export credit
guarantee of the Federal Republic of Germany. Tenor of the loan is 12
years beginning with delivery of the ships.

"As far as building technologically sophisticated and high-quality
special vessels goes, German shipyards still have some good
opportunities," said Christian K. Murach, member of the Management
Board of KfW IPEX-Bank on the occasion of the signing of the loan
agreement. "We are very pleased that the young and technically
innovative ship owner RollDock gave this complex order to FSG, a
shipyard that is highly renowned in the sector. We are proud to
contribute to the financing of the innovative high-tech ships and in
this way also to utilising capacity and ensuring jobs in Flensburg."

In recent years the FSG shipyard has become more specialised in the
construction of technically advanced and complex ro-ro ships. The
Dutch shipping company RollDock ordered the vessels with a
revolutionary design that it developed and IP protected itself. The
vessels, which will be identical, are designed to transport
particularly large or heavy cargo as is the case in the offshore
industry. They can load up to 7,000 tonnes in three different modes:

- by crane (lift-on/lift-off, or 'lo-lo') with two installed 
     Liebherr cranes
   - via ramps (roll-on/roll-off, or 'ro-ro') using adjustable ramps 
     and
   - by sea (float-in/float-out, or 'flo-flo').

For the flo-flo mode the ships can be submerged by more than twelve
and a half metres, enabling cargo to be floated into the hold. This
loading mode is suitable for the transport of small to mid-sized
ships as well as floating dredgers.

Delivery is scheduled for the end of 2013 for the first ship and
mid-2014 for the second vessel.

About KfW IPEX-Bank

KfW IPEX-Bank GmbH is responsible for international project and
export finance within KfW Bankengruppe. Its function of providing
financing to support the German and European economy is derived from
the legal mandate of KfW Bankengruppe. Its prime focus is on medium
and long-term lending to support the export economy and develop
economic and social infrastructure, and for environmental and climate
protection projects. KfW IPEX-Bank operates as a legally independent
group subsidiary and plays a major role in fulfilling the promotional
mission of KfW Bankengruppe. It has around 590 employees and is
represented in the key economic and financial centres around the
globe.

About Rolldock

RollDock is a relatively young heavy-lift shipping company, built by
a number of very experienced professionals from the Heavy-lift
industry. RollDock is a can-do company for solving heavy lift
shipping problems. RollDock has new multifunctional vessels and new
solutions for a new age of heavy lift shipping. At RollDock, we craft
a total solution for every problem using our engineering team and
practical experience. Instead of focussing on a limited range of
standard services, we focus on the needs of the customers; and we
understand that these needs don't always fit into neat categories. We
know how! RollDock can plan every phase of your shipping requirement,
from factory to foundation, ensuring that a tailor made solution is
provided for each problem presented by the job. RollDock sister
company, Roll-Lift, can also provide land-based heavy lift transport
and installation. We're not in the business of providing services;
we're in the business of designing solutions and providing those
solutions in the best possible way.

About FSG

FSG is a compact, well structured and modern shipyard with excellent
engineering skills from basic design to delivery and a total
workforce of about 750 employees. Flensburger Schiffbau-Gesellschaft
is the world market leader in the segment of RoRo vessels and having
significant experience in the design of RoPax-vessels and other more
specialised taylor made solutions like navy supply vessels. The
company has the competence in house and is prepared to develop -
together with the customers - the best possible solution for the
respective tasks. The track record of FSG shows about 50 vessel
deliveries during the last 15 years, all of them have been delivered
in time, quality and budget with best value for money ratio to the
full satisfaction of the respective owners. The yard actually
performs a strategic extension of the portfolio into the offshore and
special vessels sector. First reference orders like beside others the
versatile, specialised vessels for RollDock can be named already. The
yard focuses on series and one off production of ships as well.

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