Support from Export Finance Australia enabled two world-renowned Australian shipbuilders to take their business to the Caribbean.
The sea bridge between Trinidad & Tobago is the main route for transport, tourism, and supply delivery across the island nation.
When it was time to update the aging inter-island ferry fleet, Export Finance Australia was able to help. Our longstanding relationship with the Government of the Republic of Trinidad & Tobago enabled us to be well-positioned to provide ship financing.
One major need, two Australian providers
We supported two businesses for the opportunity: Austal – a global shipbuilder based in Western Australia, and Incat – a specialised shipbuilder based in Tasmania.
Both are long-term and valued customers of our Project & Structured Finance (PSF) team, with each business relationship spanning over decades.
We provided a Buyer Credit Facility to enable Trinidad and Tobago’s National Infrastructure Development Company (NIDCO) to purchase ferries from both shipbuilders. Our PSF team, aligning to the Organisation for Economic and Co-operation and Development (OECD) Arrangement on Officially Supported Export Credits, helped to ensure the transaction was a success.