EIB Ends Financing for Fossil Fuel
The European Investment Bank (EIB), the EU's financing department, will bar funding for most fossil fuel projects to become the world’s first ‘“climate bank”.The bank will end its financing of oil, gas, and coal projects after 2021, and will accelerate clean energy innovation, energy efficiency and renewables. EIB Group financing will unlock EUR 1 trillion of climate action and environmental sustainable investment in the decade to 2030, it said.Over the last five years the European Investment Bank has provided more than EUR 65 billion of financing for renewable energy…
$154.5Mln EIB backing for Greek Port
The European Investment Bank (EIB) on Monday formally agreed to provide 140 million euros (USD $154.5 million) to support expansion and upgrading of Piraeus Port, Greece's main port.The largest ever loan for port investment in the country by Europe’s long-term lending institution, will support the implementation of part of investments at the Port of Piraeus in a total investment plan of more than EUR 600 million. The 20-year loan was signed in Athens in the presence of Prime Minister of Greece Kyriakos Mitsotakis…
Jan De Nul Starts Dredging for Mauritian Port
Jan De Nul group of the beginning of work on dredging and expansion on an internal ship canal and a turning circle in port of Nouadhibou (Mauritania), one of the largest centers through which iron ore from the country is exported, is told in the group message.With the deepening and widening of the 25-km long entrance channel to the mineral terminal of Port of Nouadhibou, the National Industrial and Mineral Authority of Mauritania (Société Nationale Industrielle et Minière or SNIM) opens the port for vessels with a capacity of up to 250…
Royal Boskalis Wins $93.7mln European Contracts
Dutch dredging and heavylift company Royal Boskalis Westminster has been awarded two contracts worth 85 million euro ($93.7 million) combined for strengthening and protecting a stretch of seafront coastline from erosion in Romania and the United Kingdom.The global services provider operating in the dredging, maritime infrastructure and maritime services sectors said that has been awarded a contract by Portsmouth City Council to construct new sea defenses in Southsea near Portsmouth…
EIB Invests in Low-Emissions Outboard Engines
The European Investment Bank (EIB) has signed a EUR 14 million venture loan agreement with Sweden’s Cimco Marine AB to co-finance its innovation and growth investments.As per the unsecured credit facility agreement, the EIB will finance up to 50 percent of Cimco’s development of a new family of diesel outboard engines, inter alia a 3 liter, 6- cylinder twin turbo BMW diesel engine with a number of power outputs between 200 hp and 300 hp."The total facility is split into three tranches of EUR 4 million (A)…
EIB to Invest in Sustainable Transport
The European Investment Bank (EIB) approved a total of EUR 4.5 billion (USD 5bln) of new financing that will tackle investment gaps hindering private sector growth, including replacement of old buses and trains.The new EIB support will directly back projects in 23 countries, it said.The EIB agreed EUR 611 million of new financing to support energy transition, reduce carbon emissions and scale up renewable energy.This includes backing new solar power in Zambia and wind farms in Portugal…
Spliethoff Gets Green Loan From ING, EIB
Dutch banking group ING and the European Investment Bank said they will provide a EUR 110 million ($123 million) loan to Dutch ship management firm Spliethoff’s Bevrachtingskantoor B.V. for retrofitting vessels with exhaust gas cleaning systems.According to a European Commission press release, Spliethoff will use the loan to retrofit 42 of its vessels with exhaust gas cleaning systems and ballast water management systems.The loan is part of the ING and EIB EUR300mln Green Shipping partnership signed in 2018…
IMO Urges GHG Reduction
International Maritime Organization (IMO) Secretary-General Kitack Lim has called for Member States and the entire maritime sector including shipping and ports, to come on board to achieve the ambitions set out in the historic IMO initial strategy for reducing greenhouse gas emissions from international shipping, adopted last year.The UN body said that the strategy makes a firm commitment to a complete phase out of GHG emissions from ships, a specific linkage to the Paris Agreement and a series of clear levels of ambition…
Shipbuilding; Irish Ferries to Build Two Vessels
The European Investment Bank is providing EUR 155 million to finance two new passenger and vehicle ships for the Irish Continental Group (ICG) subsidiary Irish Ferries.The two ferries will increase passenger and cargo capacity on routes to Ireland, replace older and smaller vessels and significantly reduce emissions from the Irish Ferries fleet.The new ferries are expected to be used on both the Dublin-Holyhead and Dublin-Cherbourg routes to reflect demand for a greater choice of services from Ireland to Britain and direct to continental Europe.The announcement was made as the W.B.
First European Shipper Signs Green Shipping Guarantee Program
The European Investment Bank (EIB) announces the signature of the first agreement under its Green Shipping Guarantee Programme (GSGP) through ABN Amro.The EIB will contribute EUR 10.1 million to an ABN AMRO arranged facility to finance the construction of three cement carrier vessels for the Eureka Shipping group, said a press release.The project vessels’ design represents an improvement to the overall environmental performance of the promoter’s fleet, as well as cement carrier vessels currently operating in European waters.
EIB, ING Earmark USD 370.3 mln for Green Shipping
The European Investment Bank (EIB) and Dutch multinational banking and financial services corporation ING signed an agreement to support green investments for the European shipping market for a total value of EUR 300m (USD 372.5million). ING and EIB will each contribute EUR 150m to the facility. This agreement will ensure that sponsors of green and sustainable projects in the maritime transport sector can benefit from advantageous financial terms. The facility is available to clients with significant European interests…
European Banks Back Green Shipping Deal
The European Investment Bank and Dutch bank ABN Amro will sign an agreement to support investments for greening the European shipping fleet. This framework is the first with a financial institution in the Netherlands and is supported by the Connecting Europe Facility and was made possible by the EFSI (European Fund for Strategic Investments), central pillar of the Juncker Commission’s Investment Plan for Europe. The framework guarantee agreement will ensure that promoters of sustainable…
Gate Terminal Expanded for Handling Small LNG Vessels
Gate terminal and its shareholders Gasunie and Vopak are proud to announce that the LNG terminal at the Maasvlakte in Rotterdam has been expanded to include a third berth and special infrastructure for the loading of small LNG vessels. In conjunction with LNG bunker vessels, the new berth will in future also make it easier for ocean-going vessels to fill up with LNG in Rotterdam. As with other kinds of maritime fuel LNG can be pumped on board large ocean-going vessels using bunker vessels.
Financial Institutions Visit Panama Canal
The five international financial institutions partially financing the Panama Canal Expansion Program traveled to Panama earlier this week to see the 96.6 percent progress made thus far. During their three-day visit to the Canal, representatives were guided through the Agua Clara and Cocoli locks, as well as the fourth phase of the Pacific Access Channel (PAC-4). They also toured the Canal’s training centers: the Center for Simulation, Research and Maritime Development (SIDMAR) and the new Scale Model Maneuvering Training Facility…
Carbon War Room Launches Shipping Efficiency Advisory Board
Six leaders and influencers from across the shipping industry will join global NGO Carbon War Room’s (CWR’s) Shipping Operation Advisory Board. Their backgrounds span the shipowning, chartering, technical analysis, finance, and academic worlds. The board will lend extensive industry insight and support CWR’s mission to profitably decarbonise the international shipping industry. Galen Hon, Manager, Shipping Operation, Carbon War Room, commented: "Following UNFCCC in Paris, the industry has an obligation to find new and innovative ways to reduce carbon while remaining competitive. With expertise spanning finance, ship operation, classification, data analysis, technology, and software, these individuals are perfectly positioned to identify and evaluate opportunities for innovation and growth.
CWR Launches Shipping Efficiency Advisory Board
Six leaders and influencers from across the shipping industry will join global NGO Carbon War Room’s (CWR’s) Shipping Operation Advisory Board. Their backgrounds span the shipowning, chartering, technical analysis, finance, and academic worlds. The board will lend extensive industry insight and support CWR’s mission to profitably decarbonise the international shipping industry. Galen Hon, Manager, Shipping Operation, Carbon War Room, commented: "We are thrilled to have gathered a group with so much knowledge and experience in shipping.
Top Experts in Advisory PortXL
The advisory committee is, together with the board of trustees, the strategic advisory body of the PortXL accelerator program. PortXL is a mentorship driven open innovation program to accelerate tech startups from all over the world focusing on port related industries. The program wants to strengthen innovative activities into the ecosystem of Rotterdam and open the port of Rotterdam network to startups. "We are proud to have such a broad mix of leaders from various markets and areas of expertise.
EIB Antes €165 Mln for Amsterdam Sea Lock
The European Investment Bank (EIB) has agreed to provide EUR 165 million (187.5m) to support the construction of a new sea lock at IJmuiden, the principal access to the Dutch Port of Amsterdam. The current Noordersluis lock was built in 1929 and the new larger lock will ensure that the next generation of bulk carriers, container ships and cruise ships can continue to access the Port of Amsterdam and the North Sea Canal, and is expected to reduce waiting time for ships. The new sea lock will be 500 meters long, 70 meters wide and 18 meters deep, and able to operate in all tides.
Dublin Port Gets Approval for ABR Project
Dublin Port Company today welcomed the decision by An Bord Pleanála to grant permission for the Alexandra Basin Redevelopment (ABR) Project which will transform Dublin Port’s infrastructure and enable it to service the economy for decades ahead. The project will increase the port’s ability to handle large ships by deepening and lengthening three kilometres of the port’s seven kilometres of berths. It will also deepen the port to provide an entrance channel with a depth of at least 10m. The ABR Project is the largest single infrastructure development project in the history of Dublin Port.
Ferry Safety in the Developing World
A convergence of forces makes for market opportunities for new safe ferry systems in the developing world. Need, policy, and funding are poised to provide a moment of opportunity. The expanding global economy has resulted in economic and population growth in developing world cities, resulting in horrendous road congestion. In response, governments and businesses have begun planning for intra-urban ferries wherever possible. Ferries in the developing world have a deserved reputation for being unsafe.
Peel Ports Celebrate Launch of Liverpool2
Over 300 industry guests gathered at the Port of Liverpool yesterday (Thursday June 6th) to toast the launch of Peel Ports’ landmark deep water container terminal Liverpool2.. Sir Bobby Charlton and ‘King’ Kenny Dalglish pushed the button on the start of dredging and launched a dazzling display of fireworks over the site of the new terminal in the Mersey. The two footballing legends were invited to symbolise the great benefits that Liverpool2 – along with Peel Ports’ investments in port hubs along the Manchester Ship Canal – will bring to both the cities of Liverpool and Manchester.
Multilateral Institutions Visit Panama Canal Expansion
Representatives from the multilateral institutions financing the Panama Canal Expansion Program visited today the new locks project construction in the Pacific side as part of their regularly scheduled visits. Experts from the Inter-American Development Bank (IDB), the European Investment Bank (EIB), Japan Bank for International Cooperation (JBIC), International Financing Corporation (IFC) and the Andean Development Corporation (CAF) participated in meetings for two days and visited the Expansion Program construction site. ACP executives made a comprehensive presentation of the current status of the project, including details of the work stoppage by Grupo Unidos por el Canal, S.A. (GUPC), the new locks project contractor.
Wärtsilä Gets Fourth R&D European Investment Bank Loan
The European Investment Bank (EIB) has granted a EUR 150 million loan to Wärtsilä to finance the company's research, development and innovation (RDI) activities in several European countries. The contract for the 10-year loan was signed in Helsinki, Finland on 13 June 2013, and marks a continuation of the longstanding and strong co-operation between the European Investment Bank and Wärtsilä. With the loan Wärtsilä will continue to develop engines and power plants that are cleaner, more efficient, more reliable and with higher levels of automation, lower lifecycle costs, as well as with improved environmental performance. New maritime emission requirements are expected to increase the demand for more environmentally sound engines and a similar trend is evident in land-based power plants.