January 16 - Hansa Heavy Lift has completed a long-term financial agreement with its core banking group for its fleet of heavy lift vessels.

"We are very happy to announce that after four years of steadily growing our business in a very difficult market we were able to create a long-term financing arrangement acceptable to our banking partners," said Hansa ceo Roger Iliffe.

"Our strong and improving performance within the heavy lift market, together with the support of Oaktree Capital Management, were the key to being able to strike this long-term deal."

Iliffe added that the shipping line goes into 2015 with the right financial structure to ensure its continued growth.

"Unfortunately," he added, "despite our best efforts, we have not yet been able to agree to terms on two ships currently financed by NordLB. We are confident that in due time we will be able to announce a final economic solution for these two ships."

Hansa currently operates a fleet of 21 vessels, including one on long-term charter.

"To meet our customers' requirements we are continuing to build up our engineering capabilities around the P2 and P1 vessel classes in addition to our fleet of modern F-Class vessels," said Joerg Roehl, chief commercial officer and managing director of Hansa.