On 12 December, the European Commission will present the European Green Deal as part of its plan to be the first climate neutral continent by 2050, announced the European Commission’s recently-elected President, Ursula von der Leyen, on the sidelines of COP 25 underway in Madrid.
Japanese shipping company NYK announced it has secured a syndicated sustainability-linked loan, Japan’s first advanced loan that allows for conditions such as the loan’s interest rate to be adjusted according to the borrower’s CSR performance.
The European Union along with its officials are making their efforts to advance the green investments in Europe, by bringing to the table the idea of easing the EU banking rules. The idea highlights the environmental ambitions of the next European Commission and the EU’s executive, which is going to be voted for a five-year term the following Wednesday, 4 December.
J.P. Morgan Asset Management joins the shipping community urging shipowners to be in line with the upcoming environmental measures beginning in 2020 and extending to 2050, that aim to reduce shipping emissions, Wall Street Journal reports.
Dutch group SBM Offshore announced it has completed the project financing of FPSO Liza Unity by a consortium of nine international banks, for a total of US$1.14 billion. The company expects to draw the loan in full, phased over the construction period of the FPSO.
Sweden ranks at the top of the ten countries reported to be the most ready for energy transition, according to World Economic Forum’s Energy Transition Index (ETI), comparing the energy sectors of 115 countries and analyzing their readiness for energy transition.
Japanese NYK announced it has secured a 9 billion yen syndicated loan agreement with MUFG Bank Ltd., with the aim to install scrubbers. This forms part of NYK’s medium-term management plan, which includes the group’s intent to integrate environmental, social, and governance (ESG) initiatives into management.
Canada Pension Plan Investment Board (CPPIB) issued its first Euro-denominated Green Bond. The sale of €1 billion in 10-year fixed-rate notes will enable CPPIB to invest further in eligible assets such as renewables. Among the Green Bond-eligible investments recently made by CPPIB is a joint venture in renewable power and offshore wind assets.
Geneva-based shipping giant Mediterranean Shipping Company SA (MSC) has secured financing of US$439 million to equip its fleet with 86 scrubbers in view of IMO’s 2020 sulphur cap. Law firm Watson Farley & Williams (WFW) advised French BNP Paribas as coordinating bank and agent.
According to UNCTAD Global Investment Trends Monitor, the foreign direct investment (FDI) fell by nearly a fifth in 2018 to an estimated $1.2 trillion from $1.47 trillion in 2017. The drop brings FDI flows back to the low point reached after the global financial crisis, with the decline concentrated in developed countries where inflows decreased by as much as 40% to an estimated $451 billion.
Environmental groups see a "loophole" in Iceland's sulphur emission ban09/12/2019
Marine insurers should report any suspicion of financial crime09/12/2019
USCG alerts on clear communication in TSMS09/12/2019
USCG issues DMDSS and DP Systems guides09/12/2019
Seafarers' PTSD: signs and recovery tips09/12/2019
Bahri looks to charter 12 LNG tankers from 202509/12/2019
Partnership for an inland navigation project in South America09/12/2019
Watch: Hellenic CG rescues 14 crew from listing cargo ship09/12/2019
Safebridge receives recognition for its services09/12/2019
Cruise delayed after passengers' luggage stolen in hijacking09/12/2019