Arab Finance: Valu has partnered with maritime services provider Felix Maritime to offer customers in Egypt financing for vessel operating expenses and other purchases, with options covering both smaller payments and higher-value transactions, as per an emailed press release.
The agreement provides Revolving Limit financing for purchases of up to EGP 350,000 and Non-Revolving Limit financing for amounts above that threshold. Customers seeking to buy a yacht can also obtain up to EGP 60 million through Ulter, Valu’s luxury financing program.
Walid Hassouna, CEO of Valu, said: “Through our cooperation with Felix Maritime, we are strengthening Valu’s presence in the maritime and yachting sector, offering customers greater flexibility in managing higher-value purchases and services. This partnership reflects our continued commitment to expanding the reach of our financing solutions across diverse industries and lifestyle needs, while enabling our partners to enhance the customer experience and unlock new opportunities for growth.”
The services eligible for financing include yacht and agency husbandry, encompassing provisioning, crew management, and port clearance. Customers can also finance the paperwork and logistics required for Suez Canal transit, alongside spare parts logistics intended to reduce vessel downtime.
Maintenance and repair arrangements are covered as well, including qualified technicians, replacement parts, and specialized equipment. Financing also extends to provisions such as food and beverages, water, ice, cleaning products, household supplies, and specialty items.
Felix Maritime has operated in Egypt since 1984 and served more than 3,000 unique clients. Its services support yacht owners and crew throughout their stay in the country, with the partnership adding a financing option to its existing offering.
Bahi Naguib Latif, Board Member at Felix Maritime, commented: “Our cooperation with Valu gives Felix Maritime customers more flexibility when paying for our services, particularly for higher-value purchases. We see this as an important step in making maritime services more accessible to Egyptian customers.”
