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Ships |
Constantly growing fleet
Some 50,000 registered sea-going vessels, each with a life expectancy of about 25 years, navigate the world’s seas and oceans. They carry roughly 90 % of the goods exchanged worldwide. The effects of globalization and, in particular, the ongoing international division of labor are leading to a steady growth in tonnage. Merely to keep the worldwide fleet at today’s levels, some 2,000 new sea-going ships would need to be commissioned every year.
Categories of vessel eligible for finance
As a rule, only self-amortizing commercial ships may be financed through Pfandbriefe – but not other ship types such as warships. Commercial vessels can be divided into three broad categories for financing purposes:
- Container ships
- Tankers (liquid cargo)
- Bulk carriers (dry cargo)
Ship sizes
These three categories can be further subdivided according to size. There are special maximum sizes which must not be exceeded, for example to be able to enter a certain port or pass a canal.
The Panama Canal, for instance, is only passable for ships up to 294.13 m in length, 32.31 m in width, and with a maximum draft of 12.04 m.
Vessels of these dimensions have come to be known by the term “Panamax”. Container ships exceeding these dimensions are referred to as “post Panamax”.
Special vessels
Besides these main types, there are of course a great many subcategories in the maritime industry and, in particular, a wide range of special vessels such as gas and chemical tankers, car carriers, refrigerated vessels etc., some of which operate in very narrow niches.
