DLL, global provider of asset based financial solutions, 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. This is an exemplary transaction, covering a fleet of 76 units of Terberg terminal tractors, used for towing the cargo trailers in and out of the ships. Ships only have little time when in port, so the (un)loading of cargo needs to be done efficiently.
“Tractor manufacturer Terberg is very proud to have Stena line as a faithful customer for over 30 years now. The recent order for 76 tractors does confirm that Terberg and Stena continuously have a lot of faith in a future together. The tractors for Stena Line are packed with many options. This way, Stena Line makes sure the drivers are perfectly equipped for the job. They can handle trailers with low kingpin heights as well as heavily loaded roll trailers. These tractors combined with the optimized financial solutions package of DLL make that Stena can focus on what they are good at: shipping cargo“, comments Frank Oerlemans, Terberg Benschop.
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 even purchased four units that had already been delivered recently and leased these 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.
“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 you do just 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.