Marine Division Portfolio Approaching $ 2 Billion with 597 Vessels

Cat Financial - Marine Division
Portfolio Approaching $ 2 Billion with 597 Vessels
Dale Alberda
Sales Manager,
Caterpillar Financial Services Corporation,
Marine Division, Europe, Africa & Middle East
Caterpillar Financial Services Corporation is a wholly-owned subsidiary of
Caterpillar Inc. and provides a wide range of financing alternatives for Caterpillar
machinery and engines, Solar gas turbines as well as other equipment and
marine vessels. The company also extends loans to customers and dealers.
Our company was formed in 1981 in Peoria, Illinois, to provide lease financing
for Caterpillar lift trucks, and by 1985, we had expanded our services to support
the entire Cat product line. We moved to Nashville in 1991 and today
have offices and subsidiaries throughout the Americas, Asia, Australia and Europe.
Cat Financial had total assets exceeding $20 billion at June 30, 2004, with
more than 83,000 customers worldwide.
Our marine lending began in 1986, which at that time was limited to domestic
U.S. customers. In July 1996 the Marine Division of Cat Financial was formed
to provide vessel financing on a worldwide basis. In 2001 we began marine
lending in local currency in certain countries where Cat Financial had operating
subsidiaries.
Establishing an administrative headquarters in the U.K. during the last quarter
of 2001 has enhanced the support and increased the volume of marine lending
in Europe, Africa and the Middle East. Currently, in addition to our U.K.
office, the company supports marine lending in the Americas through its cor-
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porate headquarters offices in Nashville, Tennessee, and in Asia Pacific
through its offices in Singapore.
At June 30, 2004, the Marine Division of Cat Financial had grown its loan portfolio
to more than $1.8 billion representing 597 vessels worldwide.
Cat Financial provides both construction and permanent financing to nearly all
industry sectors based on selection by our customers of Cat or MaK main propulsion
and auxiliary engines for their vessels. We typically lend up to 80 % of
the contract price of a new vessel and provide loan terms up to 15 years. We
also typically capitalize construction period interest with initial payments of
interest and principal required after completion and delivery of the vessel.
Our Mission:
Helping Caterpillar and our customers succeed through financial services
excellence.
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