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more news at www.heavyliftpfi.com


INDUSTRYINSIGHT


An artist’s impression of Jan De Nul Group’s offshore installation crane vessel Les Alizés, which is being financed using green loans.


Shipping companies reap green rewards


The market for sustainable financing has been growing rapidly and there is an increasing number of shipping lenders that are signing up to the Poseidon Principles – a global framework for responsible ship finance. Sophie Barnes reports.


W 112


hile raising capital to finance newbuilds in the multipurpose and


heavy lift sector has been a struggle in recent years, there may be a growing trend of financial institutions aligning their ship finance portfolios with responsible environmental behaviour, as the need to decarbonise shipping continues to take centre stage.


January/February 2020 At the end of 2019, Jan De


Nul Group announced the order of a floating installation crane vessel from the CMHI Haimen shipyard in China – the


5,000-tonne lift capacity Les Alizés. This ship, as well as the jack-up installation vessel Voltaire, which is on order with China’s Cosco Shipping Heavy


We built on our existing knowledge and experience with green bonds to structure and


coordinate this green syndicated loan. – Luc Popelier, KBC Group


Industry, will be financed by the company’s first green loan. A consortium of five banks – including KBC Bank, BNP Paribas Fortis, ING Luxembourg, Rabobank and Belfius Bank – agreed the loan, which was structured according to the Green Loan Principles, as drawn up by the Loan Market Association. According to Jan De Nul, the


EMEA zone has been a driving force for the development of the sustainable financing market. However, within this market, the largest share (84 percent) is made up of sustainability-related loans, where the terms of the loan depend partly on the borrower’s performance in terms of sustainability. Green loans themselves represent a minority of the total market (16percent) as they have a stricter criterion: they should be used in their


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