Export Credit Norway is extending a loan to SMT Carisbrooke Holding LTD to finance the shipping company’s purchase of ballast water cleaning systems for five ships from Sandnes-based business Optimarin.
Optimarin, which has developed ballast water cleaning technology since the 1990s, is now set to make its international breakthrough. This year alone the company has created ten new jobs.
“The whole company is on an upwards trajectory and we are set for strong growth in the next few years. Both our incoming orders and sales have doubled in the last year. This is creating new jobs, and we expect to go from 35 to around 55 employees during the next few years,” explains Optimarin’s Sales and Marketing Director Tore Andersen.
Approved by the United States Coast Guard
Optimarin is the largest supplier of ballast water management systems in Norway and specialises in small and medium-sized systems. The company was the first to gain the US Coast Guard’s approval for its systems.
“It’s extremely valuable for us that Export Credit Norway can source secure and efficient financing for our clients. We are currently in the middle of an export odyssey we previously could only dream of,” confirms Andersen.
“We are delighted that Optimarin appreciates the value of export financing for promoting their own sales, and naturally also helping create further growth for the company,” explains Laila Johnsen, Senior Vice President at Export Credit Norway.
First of its type
In recent years, Export Credit has worked on a number of cases involving the financing of climate-friendly technology, but this is the first loan that has been paid out for this particular type of cleaning system.
“In recent years shipping companies have invested heavily in satisfying the new regulations. We encourage anyone looking for effective financing solutions to contact us. We can offer a wide range of outstanding solutions,” Johnsen continues.
The foreign buyer, SMT Carisbrooke Holding LTD, who is receiving financing from Export Credit Norway, operates a fleet of around 30 state-of-the-art dry cargo and multi-use vessels from their offices in Cowes (UK) and Dordrecht (Netherlands).