DFDS Dover Pitch Deck
Ship encumbrance | Significant unencumbered/excess value in vessels
to the benefit of unsecured creditors
Comments
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Backbone of our financing consists of
senior unsecured credit facilities with key
relationship banks
Furthermore, we finance ourselves with
ship mortgage primarily in new-builds
With a total ship value of around DKK
15.5bn and only DKK 5.3bn being pledged,
there is significant unencumbered/excess
vessel value left for unsecured creditors
Market values are determined 1-2 times
yearly by two to three independent and
reputable shipbrokers on the basis of a
sale for prompt delivery for cash
DFDS has a fleet of 64 ships
Unencumbered vessel value (YE 2022)
DKKbn
15.5
10.2
5.3
Total ship value
Unencumbered/excess vessel value
Secured debt
32
22
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