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ING and EIB to finance Spliethoff scrubbers

ING Group and the European Investment Bank (EIB) have signed a EUR110 million (USD124.7 million) loan agreement with Spliethoff to finance the retrofitting of exhaust gas cleaning systems and ballast water management systems.

From left to right: S. Fewster, global head shipping, ING; F. Nietzman, director, Spliethoff and F. Gaudet, senior banker, EIB. Photo credit: EIB

The retrofitted systems will enable Spliethoff to comply with the upcoming International Maritime Organization’s (IMO) regulations.

According to EIB, five vessels will be fitted with exhaust gas cleaning systems (scrubbers); 20 vessels will be fitted with ballast water management systems; and 17 vessels will be fitted with both scrubbers and ballast water management systems.

Michel Fransen, chief financial officer of the Spliethoff Group, said: “We have been installing scrubbers on our fleet since 2013 and are very happy with the results so far.

“Scrubbers are a very environmentally friendly solution to comply with the [sulphur] 2020 regulations. LNG or hydrogen may have the potential to become even better alternatives in the future, but only in the longer term. The investment in scrubbers also safeguards the interest of our shareholders against uncertainties in fuel availability and pricing.”

The EIB loan will be supported by the European Fund for Strategic Investments (EFSI). The agreement is part of ING and EIB’s green shipping partnership, which was formed in 2018 to support sustainable projects in the maritime sector.

www.eib.org

www.ing.com

www.spliethoff.com

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