Tugboat and Port Craft Finance - All Lenders Compared
| Lender | Product | Rate (% pa) | Loan Range | LTV | Max Term |
|---|---|---|---|---|---|
| Close Brothers | Hire Purchase / Finance Lease | 7–11% | £75,000 – £3,000,000 | 80% | 10 years |
| Lombard | Finance Lease | 6–10.5% | £500,000 – No stated cap | 80% | 12 years |
| HSBC | Commercial Loan | 5.5–9% | £500,000 – No stated cap | 80% | 12 years |
| NatWest | Commercial Loan | 5.5–9.5% | £500,000 – No stated cap | 80% | 12 years |
| Hampshire Trust Bank | Secured Asset Finance | 7.5–12.5% | £150,000 – £3,000,000 | 80% | 10 years |
| Shawbrook Bank | Secured Commercial Loan | 7.5–13% | £100,000 – £1,500,000 | 75% | 7 years |
| Paragon Bank | Secured Commercial Loan | 7–12% | £100,000 – £2,000,000 | 75% | 8 years |
| Clydesdale Bank | Commercial Loan | 6.5–10% | £250,000 – No stated cap | 80% | 10 years |
Rates indicative as at October 2026. Subject to credit assessment, vessel survey and lender appetite at the time of application.
Best Rates for Harbour Tugs (£200,000–£2,000,000)
Harbour tugs represent the core of the UK port craft finance market. Vessels in this range - typically ASD tugs of 20–35m LOA with bollard pull of 20–60 tonnes - attract competitive lender interest due to their strong operational demand and verifiable port authority revenue.
For harbour tugs, Clydesdale Bank (6.5–10%) and HSBC (5.5–9%) offer the most competitive rates for operators with minimum £250,000–£500,000 borrowing requirements and established trading histories. Close Brothers (7–11%) is the most accessible lender for smaller harbour tugs from £75,000, while Hampshire Trust offers flexibility for operators with shorter histories at 7.5–12.5%.
Best Rates for Ocean-Going and Escort Tugs (£1,000,000+)
Large tugs and escort vessels require substantial capital and typically attract large-ticket lenders. Lombard (6–10.5%, 12-year terms) and HSBC (5.5–9%, 12-year terms) are the most competitive options at this ticket size. NatWest (5.5–9.5%) is a strong alternative, particularly for operators with existing banking relationships.
Best Rates for Pilot Boats and Mooring Launches (£75,000–£400,000)
Pilot boats and mooring launches are smaller-ticket assets that suit a different set of lenders. Close Brothers is the only lender active from £75,000 in this category, making them the primary choice for smaller craft. Shawbrook (from £100,000) and Paragon (from £100,000) are the next tier, with Hampshire Trust (from £150,000) also competitive for mid-range pilot boats.
Best Rates for Dredgers (£500,000–£5,000,000+)
Dredger finance sits at the intersection of maritime and infrastructure lending. HSBC and Lombard have the deepest capacity at this end of the market, offering large-ticket facilities with up to 12-year repayment terms. For dredgers operated by port authorities, public sector procurement routes may also be available alongside traditional asset finance.
Rates and criteria by lender
How each lender on our panel prices this vessel type in October 2026, and where it fits. Rates are indicative; we compare them all for your case.
Close Brothers Tugboat and Port Craft Finance Rates
Indicative rates for tugboat and port craft currently range from 7–11% per annum, depending on the borrower's credit profile, vessel age and condition, LTV requested and the strength of port authority or contractual revenue. Loan amounts from £75,000 up to £3,000,000 are available, over a maximum term of 10 years.
| Product | Rate (% pa) | Loan Range | Max LTV | Max Term |
|---|---|---|---|---|
| Hire Purchase / Finance Lease | 7–11% | £75,000 – £3,000,000 | 80% | 10 years |
Clydesdale Bank Tugboat and Port Craft Finance Rates
Indicative rates for tugboat and port craft currently range from 6.5–10% per annum, depending on the borrower's credit profile, vessel age and condition, LTV requested and the strength of port authority or contractual revenue. Loan amounts from £250,000 with no stated maximum are available, over a maximum term of 10 years.
| Product | Rate (% pa) | Loan Range | Max LTV | Max Term |
|---|---|---|---|---|
| Commercial Loan | 6.5–10% | £250,000 – No stated cap | 80% | 10 years |
Hampshire Trust Bank Tugboat and Port Craft Finance Rates
Indicative rates for tugboat and port craft currently range from 7.5–12.5% per annum, depending on the borrower's credit profile, vessel age and condition, LTV requested and the strength of port authority or contractual revenue. Loan amounts from £150,000 up to £3,000,000 are available, over a maximum term of 10 years.
| Product | Rate (% pa) | Loan Range | Max LTV | Max Term |
|---|---|---|---|---|
| Secured Asset Finance | 7.5–12.5% | £150,000 – £3,000,000 | 80% | 10 years |
HSBC Tugboat and Port Craft Finance Rates
Indicative rates for tugboat and port craft currently range from 5.5–9% per annum, depending on the borrower's credit profile, vessel age and condition, LTV requested and the strength of port authority or contractual revenue. Loan amounts from £500,000 with no stated maximum are available, over a maximum term of 12 years.
| Product | Rate (% pa) | Loan Range | Max LTV | Max Term |
|---|---|---|---|---|
| Commercial Loan | 5.5–9% | £500,000 – No stated cap | 80% | 12 years |
Lombard Tugboat and Port Craft Finance Rates
Indicative rates for tugboat and port craft currently range from 6–10.5% per annum, depending on the borrower's credit profile, vessel age and condition, LTV requested and the strength of port authority or contractual revenue. Loan amounts from £500,000 with no stated maximum are available, over a maximum term of 12 years.
| Product | Rate (% pa) | Loan Range | Max LTV | Max Term |
|---|---|---|---|---|
| Finance Lease | 6–10.5% | £500,000 – No stated cap | 80% | 12 years |
NatWest Tugboat and Port Craft Finance Rates
Indicative rates for tugboat and port craft currently range from 5.5–9.5% per annum, depending on the borrower's credit profile, vessel age and condition, LTV requested and the strength of port authority or contractual revenue. Loan amounts from £500,000 with no stated maximum are available, over a maximum term of 12 years.
| Product | Rate (% pa) | Loan Range | Max LTV | Max Term |
|---|---|---|---|---|
| Commercial Loan | 5.5–9.5% | £500,000 – No stated cap | 80% | 12 years |
Paragon Bank Tugboat and Port Craft Finance Rates
Indicative rates for tugboat and port craft currently range from 7–12% per annum, depending on the borrower's credit profile, vessel age and condition, LTV requested and the strength of port authority or contractual revenue. Loan amounts from £100,000 up to £2,000,000 are available, over a maximum term of 8 years.
| Product | Rate (% pa) | Loan Range | Max LTV | Max Term |
|---|---|---|---|---|
| Secured Commercial Loan | 7–12% | £100,000 – £2,000,000 | 75% | 8 years |
Shawbrook Bank Tugboat and Port Craft Finance Rates
Indicative rates for tugboat and port craft currently range from 7.5–13% per annum, depending on the borrower's credit profile, vessel age and condition, LTV requested and the strength of port authority or contractual revenue. Loan amounts from £100,000 up to £1,500,000 are available, over a maximum term of 7 years.
| Product | Rate (% pa) | Loan Range | Max LTV | Max Term |
|---|---|---|---|---|
| Secured Commercial Loan | 7.5–13% | £100,000 – £1,500,000 | 75% | 7 years |