German company Waterworks Offshore Services is to refocus its business from ship brokerage to vessel finance for the offshore renewable energy sector and rebrand as Waterworks Offshore Concepts.
The company said it is the first purely green ship finance institution providing the renewables sector with ways to acquire and manage vessel finance solutions.
It added that chartering, sale and purchases and newbuilding services will be continued for existing clients to complement finance transactions.
Waterworks Offshore Concepts managing director Sven Boedewig said: “We believe that the offshore renewable shipping market needs finance solutions that match the innovative and disruptive nature of energy transition into a green future.
“Hence we will develop attractive and flexible solutions with our finance partners and private equity network enabling shipowners to request finance, manage existing contracts fast and easy and open a new sustainable investment opportunity to investors.”