JR Ship Investments, part of JR Shipping Group, reported a successful progress of the issuance of SeaZip bonds following the launch in September this year. All SeaZip Bonds have been placed in less than two months, raising €6 million.
JR Ship Investments launched the issue of SeaZip Bonds on Sunday, September 24. This offered investors the opportunity for a sustainable investment with a fixed interest rate of 7.5% per year and unique collateral. The bonds have a nominal value of €25,000.
Shipping company SeaZip Offshore Service is part of JR Shipping Group. SeaZip Bonds are intended to refinance four SeaZip Offshore Service vessels. These 24 PAX Crew Transfer vessels are active in offshore wind. Although the refinancing for the four SeaZip ships was not urgent—the existing ship financing ran until January 2025—the JR Shipping group looks back with satisfaction on the decision to ensure a solid and long-term financial foundation under the ships at this time, the company said.
This continuity is crucial right now. The activity level in the offshore wind industry is currently at its highest. Especially in the North Sea, work is underway on the development and realization of prestigious wind turbine projects and infrastructure facilities aimed at making the North Sea the world’s largest sustainable power plant. The demand for service ships like those of SeaZip – Crew Transfer vessels– continues to increase.
Added value through double capacity
SeaZip Offshore Service has been active since 2010 and has gradually expanded its fleet since then, with the purchase of an existing ship, renamed SeaZip 9, as the most recent achievement. SeaZip 3 to 6 have been part of the fleet since early 2015 and 2016. They were built by Damen Shipyards. In 2022, the capacity of the Crew Transfer vessels was doubled from 12 to 24 passengers (PAX). Precisely 24 PAX ships are highly sought after within the offshore wind industry.
In addition to the first mortgage and the high annual interest rate of 7.5%, payable quarterly, investors also recognize themselves in the sustainable dimension of SeaZip Bonds, the company mentions. SeaZip’s 24 PAX ships sail for sustainable wind at sea. Investors and bondholders sail sustainably with them. Source: JR Ship Investments Image: SeaZip 9 Source: SeaZip (LinkedIn)