Shipbuilding projects are capital-intensive. But yards are not well suited to organise all necessary financing elements and export financing principles are not fully applicable to shipbuilding projects. In recent years shipyards are increasingly confronted with demands from shipowners to facilitate longer finance tenors combined with lower down payments request which conflict with limited long term financing capacity of most commercial banks and specialized ship finance institutions.
CESA is exploring the possibilities of establishing an EU-wide guarantee fund for pre- and post-delivery financing. The priority is to establish a European wide instrument to increase the available volume for financing which is most urgently needed by shipyards.