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. The new vessels, which will be laid up in the Netherlands, will operate with significantly better fuel efficiency and reduced emissions of pollutants.

All three new ships will be built and operated in compliance with IMO and EU regulations and will operate under an EU flag. They will serve northern European ports, predominantly in the Sulphur Emission Control Areas (SECAs) of the Baltic and North Sea.

The project will contribute to a modal shift in which, instead of by road, goods are transported by sea, which is considered to be the most sustainable transport mode for this type of cargo. This will help to reduce the overall climate impact of transport, and specifically the promoter’s carbon footprint.