DLL has been working successfully with Stena Line, one of the world's largest ferry operators, on a transaction to finance the replacement of their fleet of terminal tractors in 6 of their ports in the Netherlands and the UK. The transaction covers a fleet of 76 units of Terberg terminal tractors used for towing the cargo trailers in and out of the ships.
Marie Dunkley, Country Sales Manager UK for the Construction, Transportation & Industrial industries at DLL says, “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”.
Structuring the transaction was complex due to the long term of 7 to 10 years, high residual values, and multiple jurisdictions. However, in the end a tailored solution was provided which enabled Stena Line to retain the flexibility and service options offered by Terberg. DLL also purchased four units that had already been delivered recently and leased the units back to ensure the whole fleet fell under the same financing platform.
As a global fleet centric, financial solutions partner with local knowledge, DLL knows that strong supplier relationships and standardized yet flexible financing options are key for large fleet owners. “To make financing more accessible, we tailor our financial solutions to their financial situation. As such, we are not just financing the equipment, but also offer advice about financial structures and more, recognizing the financial complexity that comes with international operations,” adds Michiel van Ramesdonk, VP Global Fleet Customer Accounts at DLL.
“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.