Cases: Fisheries and aquaculture

Ireland’s largest seafood company chooses Norwegian design and equipment

Atlantic Dawn Group knows from earlier experience that by using Norwegian design and equipment, the new trawlers will be very well suited to fish in the waters in which the company operates.

About the case

Ship: 3 pelagic trawlers

Buyer: Atlantic Dawn

Financing: Loan from Eksfin and 100% guarantee from Nordea.

The pelagic trawlers are designed by the Norwegian company Salt Ship Design. Additionally, much of the equipment onboard is delivered by Norwegian suppliers such as MMC First Process, Karmøy Winch and Brunvoll.

Norwegians are highly competent in the fisheries and aquaculture industries. An increasing international interest in our products and services related to these industries confirms this.
Stig Gjethammer, Senior Client Executive, Export Finance Norway

Atlantic Dawn Group is Ireland’s largest seafood company, with the head office in Killybegs, the country’s largest fishing port. The company’s main activities are pelagic fishing and onshore fish processing. When the need for three new pelagic trawlers arose, the company asked Salt Ship Design in Stord, South Western Norway, to deliver the design.

In addition to the design of the 64 metres long and 14 metres wide trawlers, a lot of the equipment onboard is Norwegian. MMC First Process will deliver the onboard fish processing equipment, Karmøy Winch will deliver winches and deck equipment, and Brunvoll will deliver tunnel thrusters. Several other Norwegian exporters will supply products to the trawlers.

High quality equipment

– All these suppliers sell high-tec equipment of top quality. Atlantic Dawn Group knows from earlier experience that by using Norwegian design and equipment, the new trawlers will be very well suited to fish in the waters in which the company operates, said Gjethammer.

The ships are built in Turkey and will be delivered between February 2021 and February 2022. However, due to the pandemic, the delivery has experienced some delay. The trawlers will mainly fish for mackerel and herring in the Irish sea.

Norwegian financing

Export Finance Norway is financing the purchase of the Norwegian deliveries to the trawlers, and the cooperation with Nordea Bank, the guarantor, has been excellent.

This is a good example of how export financing can contribute to Norwegian suppliers may win contracts abroad.
Stig Gjethammer, Senior Client Executive, Export Finance Norway

It’s also worth noting that this is the first time Export Finance Norway is involved in a lending agreement under Irish laws, said Gjethammer.