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.
The Autonomous Operator of Parisian Transports published a press release according to which sixteen among Europe’s major companies initiate to push forward the development of sustainable finance, setting up the Corporate Forum on Sustainable Finance, ‘The Forum’. It is designed as a permanent network based on exchanging ideas and views and unites crucial ‘Green Issuers’.
As part of its commitment to environmental performance, Japanese NYK announced it will receive 2 billion yen from Taiyo Life Insurance Company as a green loan to finance the construction of its first methanol-fueled chemical tanker at Hyundai Mipo Dockyard Co. Ltd.
While talking at the first SAFET4SEA Conference in Hamburg, Prof. Orestis Schinas, Professor of Shipping and Ship Finance at Hamburg School of Business Administration, talked about the problem of green finance, and shared advice for newbuildings and existing ships. Prof. Schinas noted that decarbonization comes with a price and operators or owners are challenged and faced with the burden.
Singapore-based shipping owner Quantum Pacific Shipping has secured a US$40m Green Loan from the bank giant BNP Paribas, to finance the purchase and installation of scrubbers for its fleet. The signing of this agreement is considered as the first green loan issued to a shipping company in Asia Pacific.
COP 24 was held in Katowice, Poland, from 3 to 15 December, gathering parties from all around the world to push further work on the fight against climate change. Although the initial feeling was that the negotiations would not end up in some tangible results, governments eventually adopted a robust set of guidelines for implementing the landmark 2015 Paris Agreement, literally on the edge of time.
Car shipping company faces charges for illegal shipping24/04/2019
Polish LNG terminal receives more financing to expand24/04/2019
Intercargo launches its 2018 bulk carrier casualty report24/04/2019
Port of Long Beach approves its updated strategic plan24/04/2019
The transition to a hydrogen future has begun24/04/2019
Port of LA to reduce emissions with next-gen eco-trucks24/04/2019
Steps to be taken to prevent malaria24/04/2019
- Short Sea
Shipping on Rhine affected by drop in water levels24/04/2019
Iran threatens to block the Strait of Hormuz after US ends waivers24/04/2019
- Maritime Software
WiseTech Global rolls out its logistics solution globally24/04/2019