Dutch ABN AMRO Transportation has concluded the world’s first financing for the installation of a ballast water treatment system (BWTS) on several vessels for the Denmark-based shipping firm Celsius Shipping.
“This can be seen as a landmark step where ABN AMRO continues to support its clients in improving their sustainability. The combination of new legislation and a creative financing solution is a fine example of sustainable shipping,” Bart van Veen, Associate Director Transportation for North-Europe at ABN AMRO, said.
Celsius Shipping is currently operating a number of stainless steel chemical tankers and two liquefied petroleum gas (LPG) carriers. The shipping firm also has a series of LPG/E carriers under order and further projects in the pipeline.
The financing was agreed only months prior to the ballast water treatment (BWT) convention’s entry into force, scheduled for September 8, 2017.
Introduced by the International Maritime Organization (IMO), the convention will stop the spread of invasive aquatic species, which can be a threat to local ecosystems and affect biodiversity. Under the convention, vessels will be required to install a BWT system. This will have implications for both shipping clients and ABN AMRO as the core financier, the company informed.