NIB – EUR 20,000,000 electric hybrid vessels financing

DKCO advised Nordic Investment Bank (NIB) in connection with a ten-year EUR 20 million loan agreement with the Finnish dry bulk cargo company ESL Shipping Oy. The loan will finance the company’s investments in six new dry bulk carriers.

The company is investing in new bulk carriers to increase capacity and energy efficiency. The new vessels will be electric hybrids and the aim is to reduce CO₂ and harmful air emissions with the fuel mix consisting of low-sulphur marine gas oil, biodiesel, and a battery pack. The CO₂ emissions per cargo unit transported will decrease by 40-50 % compared to the existing ships.