Spanish owner Balearia has clinched the country’s first sustainable loan for shipping.
The €80m ($89m) syndicated financing led by CaixaBank will help the ropax specialist build a fleet of greener LNG-fuelled vessels.
The interest will be calculated using two environmental indicators: the number of eco vessels operated, and the number of ships with electrical connections when docked.
Other lenders include Abanca, Banca March, BBVA, Cajamar and Santander.
Balearia said it seeks to lead the transformation of Spain’s shipping sector by reducing pollution through the use of cleaner energies.
The company already has nine dual-fuel vessels using LNG, and aims to add three more over the next five years.
In 2021, Balearia took delivery of the 1,200-passenger Eleanor Roosevelt, said to be the world’s first LNG-fuelled fast ferry.
The ship uses four Wartsila dual LNG/diesel engines for a top speed of more than 40 knots and has a range of 400 nautical miles (740 km).
The vessel made the first carbon-free journey of any ship in Europe, using biomethane, the owner claimed.
Smaller newbuilding underway
The Eleanor Roosevelt was ordered at the Armon shipyard in Vigo, Spain, in 2018 at a cost of €90m.
The new ferry forms part of the smart concept being developed by Balearia, comprising the application of new technologies, big data and artificial intelligence through the digitisation of ships and maritime terminals.
Clarksons reports that a 350-pax newbuilding is on order at Armon for delivery in 2023.
