Caterpillar Oil & Gas has introduced 100% financing for new offshore or marine assets.
Assets viable for the financing program include jackup and semi-submersible rigs, accommodation units, drillships, liftboats, offshore support vessels and tug boats.
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Caterpillar said that its ‘asset financial solution’ affords customers no project risk, with the flexibility to account for all aspects of an offshore newbuild, including risk mitigation for unexpected construction or project costs.
Strong collaboration between customers, Cat® dealers and Caterpillar is established at the project’s inception, with the asset being built to the customer’s requirements, said Cat.
Antti Ekqvist, Caterpillar Oil & Gas global offshore manager said: "We have a proprietary new financing model for the offshore industry that can help our customers succeed and grow despite down cycle market conditions.
"The Asset Financial Solution was developed to be a simple, succinct financing source available for the complete duration of a customer’s project from the start of construction to post delivery and operation."
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By GlobalData"At Caterpillar, we are firmly committed to partnering with our customers to help them win regardless of market conditions. It’s our job to design concise, easy solutions that help their bottom line and we believe the new Asset Financial Solution delivers on that promise and more."
