KfW IPEXBank Finances Two More Royal Arctic Lines Ships

first_imgzoomImage Courtesy: Royal Arctic Line/Havyard Germany’s lender KfW IPEX-Bank is providing EUR 16.43 million (USD 18.6 million) to Greenland’s Royal Arctic Line A/S to finance two additional transport vessels.The new vessels will be built at the Nodosa shipyard in Spain, with a significant portion of the components sourced from Germany.Securing this industrial suppliers’ portion took place primarily in cooperation with the German Maritime Export Initiative (GeMaX), according to KfW IPEX-Bank.As informed, the financing is covered by insurance from the Spanish state export credit insurer CESCE and avails of the fixed rate funding offered by the Spanish Commercial Interest Reference Rate (CIRR).The vessels are designed for year-round operation so as to supply the inhabitants of remote settlements along the Greenland coast that are not connected to each other by land.The 36-meter-long vessels will have onboard cranes, highest ice class and refrigerated container connections for transporting deep-frozen fish for export. They will also meet the requirements of the New Polar Code, which came into force in 2017.In November 2018, the bank also concluded a pre- and post-delivery financing for two similar vessels for Royal Arctic Line. The ships are being built at the Zamakona shipyard in Spain.“We are delighted to be able to continue reliably to finance and secure the fleet renewal for Royal Arctic Line… We thereby not only contribute to supplying the Greenland population, but also to modernising the maritime infrastructure of the North Sea,” Andreas Ufer, a Member of the Management Board of KfW IPEX-Bank, commented.With delivery at the end of 2020 and 2021 respectively, these newbuild transport vessels will replace older ships in the Royal Arctic Line fleet.last_img read more

Veterans Still Face Hurdles when Entering the Civilian Workforce

first_img Dan Cohen AUTHOR Service members entering the civilian world continue to face challenges obtaining licenses and certifications for skills they used during their service. Combat medics, for example, typically will not qualify for basic health care jobs despite being highly trained.At a two-day American Legion conference last week, leaders from business and government looked for ways to smooth the transition for personnel seeking to enter the civilian workforce.Labor Secretary Tom Perez said the government has overhauled DOD’s job readiness program for service members leaving the military over the past two years, but said “unnecessary licensing barriers” still exist, reported Stars and Stripes.  “We need to do a better job of recognizing the core competencies that our service members bring to the table,” Perez said.The military once was reluctant to help troops gain skills and certifications that translated to civilian work for fear of losing them. But that has changed greatly, said Steve Gonzalez, the American Legion’s assistant director for veterans employment and education.One speaker underscored the critical resources that service members can provide society.“There’s a demand for skilled workers and we’ve got the supply coming out of the military,” said Lisa Lutz, president of the policy and research analysis group Solutions for Information Design. “We can’t afford to ignore that.”last_img read more