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Spliethoff gets €110M backing for "green" investments

As part of their €300M green shipping programme, the European Investment Bank and Dutch-based ING Bank NV will lend €110.4M to Spliethoff Group

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Spliethoff gets €110M backing for "green" investments

ING and the EIB have signed a €110M loan agreement to finance Dutch ship management company Spliethoff’s Bevrachtingskantoor BV for the retrofitting of 42 vessels of its fleet with exhaust gas cleaning systems and ballast water management systems.

 

This will enable Spliethoff to be compliant with IMO and EU regulations governing air emissions and prevention of the release of seaborne pathogens that are harmful to the marine environment. The EIB loan will be supported by the European Fund for Strategic Investments, the main pillar of the "Investment Plan for Europe," as well as the EU Connecting Europe Facility.

L to R: Stephen Fewster (ING), Frank Nietzman (Spliethoff), Francois Gaudet (EIB)
L to R: Stephen Fewster (ING), Frank Nietzman (Spliethoff), Francois Gaudet (EIB)

The loan is part of the ING and EIB €300M Green Shipping partnership signed in 2018, to support sponsors of green and sustainable projects in the maritime transport sector with advantageous financial terms.

 

The EIB will contribute €49.5M to a €110.4M ING Bank NV arranged facility to finance the installation of scrubbers and ballast water management systems on 42 vessels for Spliethoff’s Bevrachtingskantoor BV.

 

Specifically, 17 vessels will be retrofitted with exhaust gas cleaning systems and ballast water management systems, five vessels with exhaust gas cleaning systems and 20 vessels with ballast water management systems.

 

Loyens & Loeff acted as transaction lawyer for ING Bank and coordinating documentation between all three parties.

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