Pelagic Partners recently finalized its refinancing agreement with NIBC, showcasing both organizations’ robust collaboration and efficiency. Executed with remarkable speed, the refinancing process reflected the coordination and dedication of the teams involved. The comprehensive agreement encompassed two tankers and three bulk carriers, providing extensive support for the diverse fleet operated and managed by Pelagic Partners.
In May 2024, Pelagic Partners, a Cypriot shipping fund manager, announced that it had clinched a refinancing deal in the Netherlands at an impressively competitive rate. The company, which was founded four years ago by Atef Abou Merhi and Niels Hartmann, celebrated the deal at a dinner hosted by the Dutch lender NIBC in the captivating setting of Amsterdam’s canal district.
NIBC’s Shipping Team hosted the tenth Maritime Dinner on May 15th 2024, inviting industry leaders aboard a salon boat for insightful dialogue. Prominent figures who attended the event included Pelagic Partners Managing Director, Atef About Merhi, and Pelagic Partners Executive Director, Ahmad Abou Merhi. The event provided a platform to celebrate shared achievements and explore forthcoming opportunities in global shipping.
Present across the entire value chain, Pelagic Partners presents opportunities for its partners to join the company in becoming active players within an industry that controls 90% of all global trade. A pillar of the global economy since early times, the maritime industry is constantly evolving, adapting and proving its vitality in sustaining life. Drawing on its founders’ firsthand experience of operating and managing global shipping companies, Pelagic Partners’ investment portfolio comprises a variety of different maritime assets, including commissioning service operation vessels, dry bulk carriers, gas carriers, pure car and truck carriers, tankers, and offshore support vessels.
Founded by experienced, independent shipowners and managers, Pelagic Investment Fund benefits from unique access to shipping markets, deal flows and investment opportunities. Pelagic Partners’ control of the whole supply chain enables the company to close market level acquisitions, making them incredibly competitive. With a solid understanding of the considerable complexities involved in managing and operating a fleet profitably, Pelagic Partners draws on its founders’ experience of running their own family-owned maritime group, with Pelagic Investment Fund RAIF V.C.I.C. PLC run in a similar fashion to a traditional shipowning company.
Pelagic Partners invests in a diversified range of maritime assets including general cargo vessels, oil tankers, chemical and product tankers, containerships, bulk carriers, offshore support vessels, gas carriers, ro-ro vessels and general cargo vessels. Recognizing the cyclical nature of shipping markets, Pelagic Partners aims to ensure steady dividend distribution streams to its investors through prudent vessel management. Launched in the first quarter of 2022, Pelagic Yield Fund has an assets under management target of $300 million, investing in a variety of different maritime assets including offshore support vessels, gas carriers, pure car and truck carriers and bulk carriers.
Pelagic Partners and NIBC’s recently finalized refinancing agreement has showcased the cohesive partnership between the two companies. A critical aspect of the refinancing included the consistent maintenance of loan-to-value ratios, aligning with Pelagic Partners’ combined strategic priorities of financial stability and operational efficiency. In addition, with financing costs secured well below the market average, this provided Pelagic Partners with a significant competitive advantage.
Both NIBC and Pelagic Partners expressed their enthusiasm for this continued and productive partnership. In addition to solidifying the two companies’ relationship, the refinancing deal also establishes a strong foundation for future collaboration, reflecting the companies’ mutual confidence in their operational excellence and strategic vision.
The NIBC tenth Maritime Dinner was more than just an evening of celebration, reaffirming the value of strategic planning and collaboration in the maritime sector. With the unwavering support of financial partners and industry leaders guiding their organizations, the future appears to be promising for such dynamic alliances.
