Financing cruise ships
KfW and KfW IPEX-Bank comment on the financing of cruise ships in conjunction with their impact on the environment and on employment
KfW IPEX-Bank is tasked with providing financing in the interest of the German and European economy. This task is derived from the legal mandate assigned to KfW. As part of its task, KfW IPEX-Bank supports companies in the maritime industries in Germany and elsewhere in Europe in global competition by providing bank-based finance at market conditions.
There are very few shipyards throughout the world that are able - in terms of human resources as well as technology - to build state-of-the-art cruise ships (LNG engines, advanced flue gas cleaning and wastewater treatment systems) of high quality. Two of these shipyards are in Germany. They are a key economic factor for the respective regions in which they are located. In addition, there are hundreds of suppliers employing many thousands of people in Germany and Europe.
KfW IPEX-Bank strongly encourages its clients to opt for solutions involving the most environmentally friendly, most promising technology. Not only because such projects protect the environment, but also because they are economically sound. In such projects we can observe a growing trend towards more environmentally friendly ships. One example is the world's first cruise liner powered by LNG - the AIDAnova, which was delivered in December 2018 and financed by KfW IPEX-Bank. Two more such vessels are currently being built.