KfW IPEX-Bank is financing two kamsarmax dry bulk carriers ordered by C Armateurs.

The German export finance bank has provided a credit facility of €42m ($45m) to the Swiss-based shipping company, which is a part of the Cobelfret group.

The purpose of the facility is “the fleet’s renewal and modernisation to enhance efficiency and reduce emissions in order to meet the increasingly strict requirements of the IMO [International Maritime Organization] and charter companies,” KfW said in a statement.