NRP (Ness, Risan & Partners) Project Finance, a Norwegian finance company, has launched into 2024 with new investments totaling $76 million. This year, NRP Maritime Asset Management AS (MAM), which specializes in shipping investments, has secured the purchase of two bulk carriers and two feeder vessels. The largest deal by NRP Maritime Asset Management AS (MAM) involves a partnership with Athens-based shipowner and operator W Marine for the acquisition of a 2016-built kamsarmax bulk carrier, valued at approximately $28 million. Oslo-based NRP (Ness, Risan & Partners) Project Finance is known for its stringent selection criteria, focusing on opportunities that offer optimal risk/reward profiles. This cautious approach underpins their strategy of making calculated investments to ensure sustainable growth and profitability. As a result, NRP (Ness, Risan & Partners) Project Finance continues to strengthen its position in the shipping finance sector, maintaining a portfolio that reflects both diversity and strategic investment decisions. 22-May-2024
Norwegian finance firm Ness, Risan & Partners (NRP) saw a significant uptick of 11% in Q1 2024 as it began reducing its exposure to the dry bulk sector. The NRP Premium Maritime Fund, known for its opportunistic investment strategy, capitalized on favorable market conditions, achieving a return of 10.6% in the first quarter of 2024. According to the Q1 2024 report, this performance was primarily driven by strong cash flow from product tanker investments and further enhanced by value gains in the bulk carrier segment. Based in Oslo, the NRP fund, which specializes in direct investments in maritime vessels, has achieved an impressive annualized return of 27% since its launch in February 2017. 3-May-2024
In 2023, the Premium Maritime Fund managed by NRP Maritime Asset Management distributed dividends totaling $55.3 million. This Oslo-based shipping fund, which specializes in direct investments in ships, reported a return of 9.1% for the year, as detailed in its fourth-quarter results. By the close of 2023, the net asset value of the NRP shipping fund stood at $37.3 million, reflecting a robust performance in a challenging market environment. This substantial dividend payout, coupled with a solid return rate, underscores the fund’s successful strategy and operational efficiency in the maritime investment sector. 2-February-2024
Norwegian finance company Ness, Risan & Partners (NRP), and German shipowner and operator Briese Schiffahrt had jointly acquired a new building eco-handysize bulk carrier 40K DWT. Ness, Risan & Partners (NRP), and Briese Schiffahrt will take the delivery of eco handysize new building bulk carrier in June from Jiangmen Nanyang Ship Engineering (JNS). Norwegian finance company Ness, Risan & Partners (NRP), and German shipowner and operator Briese Schiffahrt’s new building eco-handysize bulk carrier will be constructed according to EEDI (Energy Efficiency Design Index). According to Norwegian finance company Ness, Risan & Partners (NRP), this new building eco-handysize bulk carrier will be one of the greenest bulk carriers with bunker savings of up to 45% compared to equivalent handysize bulk carriers. Norwegian finance company Ness, Risan & Partners (NRP) did not reveal the price tag of the new building eco-handysize bulk carrier. Norwegian finance company Ness, Risan & Partners (NRP) signed the deal with the reseller Japanese shipowner. In December 2021, Norwegian finance company Ness, Risan & Partners (NRP), and German shipowner and operator Briese Schiffahrt acquired 2014 built handysize bulk carrier 37K DWT MV Interlink Levity. Ness, Risan & Partners (NRP), and Briese Schiffahrt chartered out MV Interlink Levity to Oldendorff Carriers. Previously, 2014 built handysize bulk carrier 37K DWT MV Interlink Levity was owned on a sale and leaseback basis by KKR-controlled Ocean Yield of Norway. 2014 built handysize bulk carrier 37K DWT MV Interlink Levity was operated by Interlink of Bermuda. Earlier in 2021, Norwegian finance company Ness, Risan & Partners (NRP) had teamed up with German shipowner and operator Briese Schiffahrt to add two (2) bulk carriers to its fleet. Previously, Ness, Risan & Partners (NRP), and Briese Schiffahrt acquired 2010 built handysize bulk carrier 37K DWT MV BBC Pluto (ex MV Pola Ilaria). 2010 built handysize bulk carrier 37K DWT MV BBC Pluto (ex MV Pola Ilaria) is managed by Briese Schiffahrt’s sister company BBC Chartering. In July 2021, Norwegian finance company Ness, Risan & Partners (NRP) sold the company’s $2 billion property corporation as Norwegian finance company Ness, Risan & Partners (NRP) concentrates on the shipping and offshore business. 10-March-2022
NRP Maritime Asset Management AS (MAM) is advancing plans to introduce new funds aimed at the ship financing sector, under the leadership of Wilhelm Magelssen and Nicolai Heidenreich. By integrating Wilhelm Magelssen, a former Pareto executive, NRP Maritime Asset Management AS (MAM) is poised to develop a credit fund specifically designed for smaller shipowners. This initiative is part of NRP Maritime Asset Management AS (MAM)’s broader strategy to expand its investment and ship financing activities, further bolstered by the addition of a new partner. As a significant entity in Norway’s maritime asset management field, NRP Maritime Asset Management AS (MAM) intends to leverage the opportunity to bridge the financing gap for industry fleet expansion, now overseeing three funds with a collective equity of $75 million. The organization’s major investors include prestigious shipping entities such as Tudor, Klaveness Marine, and JO Capital. Led by Heidenreich, NRP Maritime Asset Management AS (MAM) has actively explored both equity and debt investment avenues, mindful of the shifts in capital costs and their impact on the shipping industry. NRP Maritime Asset Management AS (MAM) is particularly focused on addressing the financing challenges faced by privately owned shipowners with smaller fleets, providing them with tailored loan options. The company’s investment strategy targets secure debt structures to aid quality borrowers now sidelined by traditional debt financing. With Magelssen’s deep expertise in maritime finance, NRP Maritime Asset Management AS (MAM) is strategically positioned to exploit this niche, aiming to draw interest from family offices and institutional investors for its forthcoming fund. This endeavor underscores NRP Maritime Asset Management AS (MAM)’s innovative approach within the NRP Group, demonstrating its dedication to driving growth and profitability in the maritime industry through strategic financial solutions. 5-November-2019
Oslo-based NRP Maritime Asset Management AS (MAM), a branch of the Norwegian finance company NRP (Ness, Risan & Partners), is gearing up to expand its financial offerings specifically targeting the shipping sector. The company plans to capitalize on the substantial funding gap for fleet expansion among smaller shipowners by introducing a credit fund. This strategic move is driven by the increasing difficulty these shipowners face in securing adequate funding from traditional sources. Recently, NRP Maritime Asset Management AS (MAM) has been joined by Wilhelm Magelssen, a seasoned expert in maritime finance, who previously spent 12 years at Pareto. His addition is expected to significantly strengthen NRP Maritime Asset Management AS’s (MAM) capability in structuring and managing investment funds focused on the maritime industry. Under the leadership of managing partner Nicolai Heidenreich, and with the new partnership with Wilhelm Magelssen, NRP Maritime Asset Management AS (MAM) is enhancing its focus on maritime investments, particularly through its credit fund initiative. This fund aims to provide asset-backed loans to quality shipowners who, despite having smaller fleets, demonstrate strong operational and commercial performance akin to larger shipping corporations. NRP Maritime Asset Management AS (MAM) believes that these owners are often overlooked by traditional shipping banks, which prefer to cater to larger, more capital-intensive clients. By offering these loans, NRP Maritime Asset Management AS (MAM) aims to bridge this funding gap, thereby supporting the growth and sustainability of these smaller shipowners. NRP Maritime Asset Management AS (MAM) currently manages three funds and has successfully raised capital for its latest fund in late 2018. The firm continues to focus on identifying promising investment opportunities in the maritime sector, expecting to review between 15 and 30 potential investments annually. The team at NRP Maritime Asset Management AS (MAM) utilizes a counter-cyclical investment approach, a strategy that has historically proven profitable in the volatile shipping industry. The establishment of the credit fund is part of a broader strategy to diversify NRP Maritime Asset Management AS’s (MAM) investment offerings and respond to the current trends and needs within the maritime financing landscape. This initiative is expected to attract interest from a variety of investors, including family offices and institutional investors across Norway and Europe, looking for stable, yield-generating opportunities in the maritime sector. 3-November-2019
Norwegian finance company Ness, Risan & Partners (NRP) acquired 2010 built handysize dry bulk carrier 35K DWT MV Nordic Riga from Nordic Hamburg for $9.5 million. Oslo-based Risan & Partners (NRP) traditionally sets up limited partnership companies to own the vessels that the company acquires. But this time, Ness, Risan & Partners (NRP) acquired MV Nordic Riga without partnership. Ness, Risan & Partners (NRP) partner Ragnvald Risan revealed that MV Nordic Riga will come as a charter-free position. Norwegian finance company Ness, Risan & Partners (NRP) has $300 million under management and experienced in all sectors of shipping. Ness, Risan & Partners (NRP) has been involved with more than 180 transactions. 29-March-2018