Union Maritime developing dedicated lease financing program to improve industry access to wind assisted propulsion systems

Union Maritime announced the development of a dedicated and standalone lease financing program, SeaBreeze, aimed at accelerating the adoption of wind-assisted propulsion systems (WAPS) in the maritime sector. SeaBreeze will partner with leading WAPS manufacturers to offer tailored lease financing solutions for the acquisition and deployment of wind propulsion technologies.

As the global shipping industry faces mounting pressure to adopt cleaner, more sustainable technologies in order to meet strict emissions targets, wind propulsion has the potential for savings over 20-30%, according to studies and producers. However, the significant capital investment required for the installation and operationalization of WAPS presents a significant barrier for small and mid-sized shipowners and traditional bank financing remains limited for such technologies.

SeaBreeze will seek to address this challenge, offering 100% financing for wind technology equipment. It is intended to make innovative, sustainable technologies more accessible, enabling a broader segment of the industry to meet evolving environmental regulations and advance their decarbonization effort.

With an estimated potential market of over US$40 billion for wind equipment leasing, through this dedicated program, Union Maritime is well-positioned to lead in this area as it leverages its established industry network and access to alternative capital sources.

A dedicated, expert team will assist partners across the entire leasing process, from origination through to refinancing. SeaBreeze is scheduled to launch towards the end of 2025, with further details provided in due course.

Guy Blunden, Head of Transactions & Strategy of Union Maritime, said:

“The development of SeaBreeze demonstrates Union Maritime’s commitment to driving forward smart and innovative technologies to shape the future of global shipping. There is a clear market need for innovative financing solutions, and we are uniquely positioned to fill that gap. We look forward to sharing more as the project progresses.”