FMM MERCHANT MARINE FUND

1. Preparation of the project and submission to DMM (Merchant Marine Department)
2. Analysis and forwarding CDFMM for evaluation
3. Concession of "Priority"
4. Credit analysis by the financial agent
5. Financing or reimbursement of everything that was invested up to 6 months before project was submitted to DMM
6. Time frame between submission to DMM and funds being made available: from 12 to 24 months
7. Collateral. 130% - vessels can be used.

FMM - BNDES or BB

Registered or pre-registered vessels in REB (Brazilian Special Registration)

When the object of the financing is a project with national content above 60%, there will be a reduction in interest charges of 0.5% per year. Calculation of local content should observe the effective criteria of the BNDES system.

http://www.bndes.gov.br/programas/outros/naval.asp

FINAME

. Interest rate with BNDES: 1% for companies with revenue of up to R$ 60 million and 2.3% for revenue greater than that.
. Grace Period: Up to 12 months
. Amortization Period: up to 48 months
. Maximum participation: up to 100%, without foreign capital
. Financial cost: TJLP
. Financial agent spread: negotiable
. Real warranties: negotiable - the vessel itself is accepted
. Financing or reimbursement after the delivery
. Period for concession (estimate): from 60 to 120 days after registration at in the bank.

CAT FINANCIAL

. Libor + 3.5%
. Analysis commission: 1.25%
. Grace period: payment quarterly of interests during the construction
. Amortization: 8 years
. Maximum participation: up to 80%
. Cost of the Contract: even US$ 25 thousand – lawyers
. Collateral: mortgages of the vessel itself
. Period for concession (estimate): among 60 and 90 days after registration at the bank
. Requires use of Caterpillar or MAK engines