Finnlines has signed a EUR 50 million loan agreement with the European Investment Bank (EIB) to facilitate an Environmental Technology Investment programme that will help Finnlines reduce its sulphur oxides (SOx) emissions and overall environmental footprint.
The funding will form part of a EUR 100 million investment plan that involves retrofitting Finnlines’ current fleet of over 20 vessels with exhaust gas cleaning systems (EGCS) or scrubbers are they are also known, to reduce emissions of SOx to no more than 0.1%, enabling compliance with the International Maritime Organization’s (IMO) regulation in Emission Control Areas (ECAs).
To further enhance the efficiency, Finnlines will also implement propulsion and hull efficiency measures on 11 of its ships. Using optimised propellers, Finnlines expects to reduce the hull friction, improving fuel efficiency, reducing overall fuel consumption and lowering emissions of CO2, NOx and SOX.
The EIB has announced that it has set itself a target of investing at least 25% of all the financing it does in projects related to climate action.
All of the retrofits and vessel efficiency improvements are set to be completed by early 2017 at shipyards in Poland, Finland, Sweden and Estonia.
Ship Efficiency Review News
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