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October 23, 2018

KfW IPEX-Bank and Commerzbank to fund Hapag-Lloyd’s new ship

Germany-based KfW IPEX-Bank and Commerzbank have agreed to provide funding for the construction of a third expedition ship of Hapag-Lloyd Cruises, a subsidiary of TUI Group.

Germany-based KfW IPEX-Bank and Commerzbank have agreed to provide funding for the construction of a third expedition ship of Hapag-Lloyd Cruises, a subsidiary of TUI Group.

Both banks have already developed the structure of the entire financing and are acting as mandated lead arranger for all the three ships.

TUI Group previously contracted Norway’s VARD shipyard in 2016 to build the vessel named HANSEATIC Spirit, as well as its sister vessels HANSEATIC Nature and HANSEATIC Inspiration.

Delivery of HANSEATIC Nature and HANSEATIC Inspiration are scheduled to take place next year, while HANSEATIC Spirit is expected to be delivered in 2021.

“This closing again underscores our structuring competence when it comes to tailored financings in the cruise segment.”

KfW IPEX-Bank management board member Andreas Ufer said: “This closing again underscores our structuring competence when it comes to tailored financings in the cruise segment.”

HANSEATIC Spirit will feature the highest ice class for passenger ships, PC6, and mainly operate in the Arctic and Antarctic polar regions.

The 139m-long ship will also operate in warmer destinations such as the Amazon area.

The ship will be equipped with advanced technology and environmental solutions to conduct its journeys in these adverse areas.

The new vessel will be designed to accommodate a total of 230 passengers (199 for Antarctic and Spitzbergen expeditions) and 175 crew members.

The ship will comprise a number of balcony cabins, three board restaurants, several technical innovations and new features available for the cruise industry.

Among various innovations and features, HANSEATIC Spirit will be configured with an accessible prow and a marina for water sports, in addition to two movable glass balconies that extend up from the body of the ship.

The ship will be fitted with onboard electrically powered Zodiacs for low-emission trips in expedition areas with no ports or landing stages.

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