Hamburg-based ship finance company oceanis has released an upgraded version of its Pythia ship financing tool, used to automatically predict the loan terms available to dry bulk, tanker, and container vessels.
The upgraded version of the system requires as few as five inputs to generate an estimation of loan terms – the vessel’s (IMO) number, Fair Market Value, the requested Loan-to-Value (LTV) ratio, employment status, and whether the loan is for an acquisition or a refinancing.
By inputting additional information such as charter rates and durations or operating costs, shipowners can further improve the accuracy of the predictions provided, the company notes.
“We are thrilled to introduce this product to the maritime community,” said Erlend Sommerfelt Hauge, co-founder of oceanis.
“Our aim is to streamline ship finance by providing shipowners with the most relevant information available; this simple and efficient tool does exactly that. With the support of oceanis, shipowners can make better-informed decisions, optimise their financing strategies, and ultimately unlock new opportunities for growth.”
“A common theme in the financing markets are shipowners looking to benchmark their financing terms, to either confirm they sit with a strong offer, or to seek an improvement. Having a simple validation tool providing guidance on this, we hope is appreciated by the market.”
The prediction tool uses data analysis of the more than $6 billion in terms submitted via the oceanis platform, estimating figures based on available cashflows. Using the outputs provided, shipowners can explore various scenarios and evaluate the financial implications of the different loan terms displayed.