Marine Link
Friday, March 29, 2024
SUBSCRIBE

Cdp News

28 Feb 2024

Swedbank Adopts Poseidon Principles

Source: Swedbank

Swedbank has signed the Poseidon Principles, a global framework for integrating climate considerations into lending decisions within ship financeThe Poseidon Principles provide a standardised methodology for data collection and reporting of emissions from banks’ shipping portfolios, with the overall ambition of supporting and facilitating the decarbonization of the shipping industry.The Poseidon Principles are consistent with the policies and ambitions of the IMO, including its…

28 Dec 2023

"Green" Loan Secured for Low-Emission Cruise Ship

Copyright UMB-O/AdobeStock

Fincantieri signed a "green" construction loan for a maximum amount of $461m with Intesa Sanpaolo (IMI Corporate & Investment Banking Division) and Cassa Depositi e Prestiti (CDP), the proceeds of which will be used to cover the financial needs linked to the construction of the Mein Schiff Relax, the first of two newly designed dual-fuel inTUItion class cruise ships (Liquid Natural Gas - LNG and Marine Gas Oil - MGO) that Fincantieri is building for TUI Cruises, a joint venture between the TUI AG and Royal Caribbean Cruises.

27 Jul 2022

Fincantieri to Cut Debt, Focus on Core Business After H1 Loss

(File photo: Fincantieri)

Italian shipbuilder Fincantieri on Wednesday vowed to lower its debt in the coming months by delivering new cruise ships, after reporting a first half net loss of 234 million euros ($237 million).Chief Executive Pierroberto Folgiero, who took over earlier this year from long-serving predecessor Giuseppe Bono, said the company would focus on its core business in order to reap benefits from expected growth in defense spending and a post-pandemic recovery in the cruise market.Intesa Sanpaolo analysts said the proposed strategic review of Fincantieri's non-core businesses, such as infrastructure c

27 Jul 2022

Saipem Confirms Targets After Return to Core Profit

(File photo: Saipem)

Italy's Saipem on Wednesday confirmed its 2022 guidance and the targets in its business plan after the energy services group reported a first-half adjusted core profit of 321 million euros ($325 million).Investors this month agreed to fund only 1.4 billion euros of a life-saving 2 billion euro cash call, leaving the underwriting banks to mop up the remaining new shares.

06 May 2022

Fincantieri's Sales Rise on Strong Shipbuilding Business Performance. CEO Set to Retire

Credit: Wolfgang/AdobeStock

Italy's Fincantieri said sales rose 18% from a year earlier in the first quarter to 1.7 billion euros ($1.8 billion) driven by a strong performance of its core shipbuilding business.The group is gearing up for the exit of chief executive Giuseppe Bono, who is set to retire after 20 years at the helm to be replaced by former Maire Tecnimont CEO Pierroberto Folgiero.Earnings before interest, taxes, depreciation and amortization (EBITDA) were up 17.2% at 118 million euros.The EBITDA margin was flat at 7.0% and the company expects it to remain "solid" despite recent rises in commodity prices…

11 Feb 2022

European Group Lifts Funding to $4.6B to Prevent Plastic Pollution in Seas

Š Romolo Tavani/AdobeStock

A group of European development banks plan to double its funding for global efforts to stop plastic waste from polluting the world's oceans to 4 billion euros ($4.6 billion).The Clean Oceans Initiative, led by the French and German development banks and the European Investment Bank is the largest such grouping targeting plastic pollution of the sea.Around 8 million tonnes of plastic waste enters the oceans every year, most of it discarded on land or washed into rivers, the group said on Friday…

23 Apr 2020

Saipem Unable to Offer Guidance after Coronavirus, Oil Collapse

Illustration; Saipem's offshore drilling rig Scarabeo 8 - Image by Kvitrud - Wikimedia Commons - CC BY-SA 3.0

Italian oil services group Saipem said on Thursday it could not offer new guidance for the year because of the highly unstable environment created by the COVID-19 pandemic and falling oil prices.Last week the group pulled its 2020 outlook saying the pandemic might trigger a sharp fall in demand and a delay in projects.On Thursday the company said it swung to a net loss in the first quarter of 269 million euros ($291.30 million), from a profit of 21 million euros the previous year…

30 Nov 2019

NYK Line Wins First Sustainability Loan in Japan

The Japanese shipping giant NYK Line has secured a syndicated sustainability-linked loan from MUFG Bank Ltd. This is 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.This loan encourages sustainable economic activities and growth by linking loan pricing to company performance, which is determined by the score provided by CDP (Carbon Disclosure Project) annually.As long as high CDP ratings are maintained, the company’s CDP score will not cause the loan’s interest rate to change prior to the repayment deadline.In accordance with the new medium-term management plan “Staying Ahead 2022 with Digitalization and Green” announced in 2018…

29 Oct 2019

Eni-led Group to Build Wave Power Stations

Italian oil group Eni is joining forces with shipbuilder Fincantieri, power grid group Terna and state lender Cassa Depositi e Prestiti (CDP) to develop wave power stations.The agreement, which follows the understanding signed last 19 April, will launch the first phase of a joint project to convert the Inertial Sea Wave Energy Converter (ISWEC) pilot project, an innovative system that transforms energy generated by waves into electricity, into an industrial scale power station, making its application and use immediately available.The partnership agreement will focus on two phases: during the first phase, the companies will develop a business model and define a deployment plan for Italy.

26 Jun 2019

Shipping Giants May Miss Climate Targets

A new report says shipping companies failing to push for the critical technologies required to reduce their carbon footprint, such as emission-free ships.CDP, an international non-profit that drives companies and governments to reduce their greenhouse gas emissions, said that the world’s shipping heavyweights are not investing in key technologies to reduce their carbon footprint, with the sector at risk of not meeting the International Maritime Organization’s (IMO) targets to reduce greenhouse gas emissions by 50% by 2050.Against the backdrop of the IMO’s recent strategy to reduce the industry’s greenhouse gas emissions by half by 2050…

22 Apr 2019

Eni, CDP, Fincantieri, Terna in Wave Power Pact

Italian oil group Eni is joining forces with compatriot shipbuilder Fincantieri, power grid group Terna and state lender Cassa Depositi e Prestiti (CDP) to develop wave power stations.The Chief Executive Officers of the companies have signed a non-binding agreement today at the Eni headquarters in the EUR district of Rome to develop and build wave power stations on an industrial scale.The agreement seeks to combine the knowledge of the collective companies to transform the Inertial Sea Wave Energy Converter (ISWEC) pilot project into a project on an industrial scale for immediate application and use. ISWEC is the innovative system that converts energy generated by waves into electricity.

04 Feb 2019

Blockchain to Track Sustainable Biofuel

Japanese shipping company NYK, global mining company BHP, green biofuel company GoodFuels and the developer of blockchain applications for the maritime industry Blockchain Labs for Open Collaboration (BLOC) bunkered biofuel in the tanks a BHP vessel in Netherlands.The Netherlands based GoodFuels Marine, a supplier of sustainable low carbon marine fuels, has annouced the successful delivery of sustainable biofuels to the BHP-chartered, NYK-owned bulk carrier Frontier Sky, with CO2 savings verified with BLOC’s blockchain fuels assurance platform. The advanced biofuel, supplied by GoodFuels via logistics partner Varo Energy, is a ‘drop-in’ marine gasoil (MGO)-equivalent, and was blended with conventional fossil-based MGO in a mix of 30% biofuel to 70% conventional MGO.

17 Jan 2019

Crowley Promotes King and Stewart

Tiffanny King (Left), Jeannie Stewart (Right) (Photo: Crowley)

Crowley Maritime Corp. has announced the promotion of Tiffanny King and Jeannie Stewart to the positions of vice president of People Services. While each has different areas of focus, both will ultimately support Crowley’s mission of ensuring high-performance and employee development across the company. King and Stewart report to Carl Fox, senior vice president, corporate services, in Jacksonville, where all are based.In her new position, King has responsibility for human resources, compensation and employee health and well being.

15 Jan 2019

CDP, Fincantieri and Snam Join for Innovation of Ports

Italian investment bank Cassa Depositi e Prestiti (CDP), the largest shipbuilder in Europe Fincantieri and natural gas transmission company Snam teamed up to innovate port facilities in Italy and develop sustainable technologies for maritime transport.The preliminary collaboration agreement is aimed at identifying, defining and implementing medium-term strategic projects for the innovation and development of port facilities in Italy, as well as for the development of sustainable technologies applied to maritime transport, in line with the provisions of the National Integrated Energy and Climate Plan Proposal (PNIEC).The agreement was signed today in Rome by the CEOs of CDP…

19 Dec 2018

Russian Novatek, Italian SACE in LNG Pact

Russian gas giant Novatek and SACE SIMEST, the Italian export credit company part of CDP Group, have finalized an agreement on strategic cooperation in the liquefied natural gas (LNG) projects, including Arctic LNG 2."PAO Novatek and SACE signed a Memorandum on Strategic Cooperation in relation to the Company's current and future LNG projects. The parties agreed to develop long-term cooperation on the Arctic LNG 2 project and potential new LNG projects involving Italian suppliers and engineering companies," said a statement from Novatek.“We successfully cooperated with SACE in the financing of our Yamal LNG project” noted Novatek’s Chairman…

30 Aug 2017

Rickmers Maritime Wound Up

Rickmers Trust Management, a trustee-manager of Rickmers Maritime, informed that the trust has been wound up. The units of the trust and its notes shall cease to exist, said its trustee-manager in a Singapore Exchange (SGX) filing. The trust has made final distributions to unsecured creditors, representing a recovery of about 12.1 per cent. "There will be no further distributions or payments, cash or otherwise, to the unsecured creditors of the Trust, including the holders of the S$100 million 8.45 per cent. notes due 2017. The outstanding amount due on the Notes has been paid to the Notes Trustee, DB International Trust (Singapore) Pte Limited," said the statement.

15 Feb 2017

K Line’s CO2 Reduction Targets on Track

Kawasaki Kisen Kaisha, Ltd. (K Line) has announced that its CO2 reduction targets have been approved as "scientifically consistent" with the  2 degree centigrade  temperature  goal set by the COP 21 Paris Agreement. As a result, K Line says it has obtained certification from Science Based Target Initiative (SBTi), and has set its interim target to reduce CO2 emissions by 10 percent for 2019. In March 2015, we introduced our long-term environmental vision,"K" Line Environmental Vision 2050 "Securing Blue Seas for Tomorrow" and set an environmental target to reduce CO2 emissions from our operating ships by half before 2050 as one of our counter-measures against global warming.

04 Apr 2016

Fincantieri Bags 5 Cruise Ships Order from Carnival

Following on a March 2015 agreement and a memorandum of agreement last December, Fincantieri, a leader in cruise ship design and construction, and Carnival Corporation & plc, the world’s largest cruise company, have finalized contracts for the construction of five next-generation passenger ships. The contracts finalized today envisage one further unit compared to the memorandum of agreement of December and mark the most important goal reached by the two groups in the last years, having a total value which exceeds 3 billion euros. Crucial, once more, for the finalization of the agreement, the supporting of the export credit system lead by Cassa Depositi e Prestiti (Cdp).

19 Feb 2015

A Gift to US Inland Waterways

The nation and its inland waterways received a great gift at the end of 2014. On December 16, 2014, the Senate voted 76-16 to pass H.R. 5571, tax extenders legislation that included a 9-cent increase in the inland waterways diesel user fee. The increase will be effective April 1, 2015 and funds – around $40 million from industry levies – will be deposited into the Inland Waterways Trust Fund for the benefit of priority navigation project construction and major rehabilitation.

04 Mar 2015

NORDEN Publishes CSR Report

Michael Tønnes Jørgensen, NORDEN Executive Vice President and CFO (Photo: NORDEN)

Dampskibsselskabet NORDEN A/S has published its Corporate Social Responsibility (CSR) report 2014. Entitled, “On track”, the CSR report presents an overview of NORDEN’s CSR strategy, performance, achievements and future goals. This is the second year of the CSR strategy “On the right course” and NORDEN is on track. “We have reached the majority of the targets which we have set. The main CSR focus area for NORDEN in 2014 has been anticorruption, the company said. “We have developed an Anticorruption Compliance Program, which provides a framework for our work within anticorruption.

18 Mar 2016

Kleven to Build Trawler for Spanish Shipowner

Photo courtesy of Kleven

Kleven has signed a contract with Spanish ship-owner Pesquera Ancora S.L.U on the building of a 80 m long stern trawler. The vessel is of NVC 374 WP design from Rolls-Royce, and is scheduled to be delivered in February 2018. This will be the fourth vessel of the same Rolls-Royce design in Myklebust Verft’s order book; two vessels are ordered by DFFU in Germany, one by CDP Saint-Malo & Euronor in France, and this latest by Pesquera Ancora in Spain. In addition, the order book holds two live fish carriers for Norwegian owned Sølvtrans…

23 Apr 2015

Eni CEO Drafts in Former Boss to Pave Way for Saipem Sale

Stefano Cao has been brought back by Eni to turn around the oil service subsidiary Saipem that he spent nearly 25 years working for and prepare it for a sale, according to people familiar with the plan. Italian state-controlled oil major Eni has been mulling for years the idea of cutting its 43 percent stake in Saipem to somewhere below 30 percent, mainly to get 4.4 billion euros ($4.7 billion) of debt off its balance sheet that has been a brake on its own growth. But falling oil prices and setbacks that culminated last year in Saipem losing the lucrative South Stream gas pipeline project forced Eni to put the plan on hold. Saipem shares have fallen more than 60 percent in the past two years…

20 Nov 2015

NYK Again in Climate Disclosure Leadership Index

NYK has been included in the CDP*’s Climate Disclosure Leadership Index (CDLI) for a fourth consecutive year.   The company received a perfect score in the CDP's 2015 Climate Change Information Request, ranking in the top 10 percent of the CDP’s Japan 500 target companies. NYK gathers environmental performance data within the NYK Group from 356 offices and about 800 vessels around the world. Since 2012, NYK’s collection and disclosure of numerical data on CO2 emissions covered by Scope 1, 2, and 3** have been certified as accurate by a third-party certifier. In addition, NYK makes every effort to improve and disclose its environmental data, and promotes the reduction of environmental impacts through the development of innovative technologies, such as the implementation of LNG fuel.