Germany's KfW IPEX-Bank is providing finance for four bulkers ordered by Ireland's Arklow Shipping.
It has joined with DekaBank for the EUR 51m ($60.83m) deal to fund the 16,500-dwt short sea vessels being built at Ferus Smit in Germany.
The financing is backed by a 95% guarantee from export credit agency Hermes.
"Since the vessels are being built at the Ferus Smit shipyard in Leer, the financing provided by KfW IPEX-Bank and DekaBank is supporting German exports," it said.
