DLL has financed the replacement of a fleet of 76 ferry port terminal tractors in 6 ports in the Netherlands and the UK for ferry operator Stena Line.
The deal value was not disclosed.
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Port tractors, which unload cargo from inbound ferries and load up departing services, are key for operating an efficient service, said DLL, and the relationship between Terberg and Stena Line has been in place for 30 years.
Structuring the transaction was complex due to the long term of 7 to 10 years, high residual values, and multiple jurisdictions, said DLL, but that a tailored solution was provided which enabled Stena Line to retain the flexibility and service options offered by Terberg.
DLL also said it purchased four units that had already been delivered recently and leased these back to ensure the whole fleet fell under the same financing platform.
"These tractors combined with the optimized financial solutions package of DLL make that Stena can focus on what they are good at: shipping cargo", said Frank Oerlemans, Terberg Benschop.
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By GlobalDataMarie Dunkley, country sales manager UK for the construction, transportation & industrial industries at DLL said; "Terberg have worked with DLL before on larger transactions in Europe, and introduced us to Stena Line to structure this sizable deal. Our specialist knowledge of the assets and the materials handling industry meant that we could provide terms that more general asset based financial suppliers would have struggled with".
Michiel van Ramesdonk, VP global fleet customer accounts at DLL, said; "Effective fleet management is about insights; being able to track usage and proactively manage operations so you can cut costs and increase efficiency. DLL’s fleet centric approach to asset financing means we are constantly looking to develop solutions that help do that."
"Stena Line implemented Fleet Management on terminal equipment in 15 port terminals during 2014/2015. In co-operation with Terberg and DLL we have established a platform supporting our Dutch and UK terminals to take the next steps striving for continuous safe and more efficient handling of our customers", according Per Söholt, Stena Line Port & Terminals.
