Maritime News
  • Home
  • Breaking
  • Maritime News
  • Ports
No Result
View All Result
Maritime First
  • Home
  • Breaking
  • Maritime News
  • Ports
No Result
View All Result
Maritime First
No Result
View All Result
Home Maritime News

Maersk links new $5 bn revolving credit facility to its CO2 performance

by Maritime1.com
26.02.2020
in Maritime News
0 0
Share on FacebookShareShare on Twitter
- Advertisement -

- Advertisement -

Maersk secures a new sustainability-linked revolving credit facility of $5.0bn through a syndicate of 26 selected banks. This is the first bank refinancing arranged by Maersk after its transformation from a diversified conglomerate to a global container logistics company.

The facility refinances the undrawn $5.1bn facility maturing in 2021 and has a tenor of five years which may be extended by up to two years. It will be part of the company’s liquidity reserve.

“We have received strong support from our global relationship banks. The facility was substantially oversubscribed, and we are pleased with the terms and conditions of the new facility. With the new facility we have extended the maturity profile of our finance commitments, while aligning with our sustainability ones,” highlights Henriette Hallberg Thygesen, CEO of Fleet & Strategic Brands.

The credit margin under the facility will be adjusted based on Maersk’s progress to meet its target of reducing CO2 emissions per cargo moved by 60% by 2030, which is significantly more ambitious than the IMO target of 40% by 2030 (all 2008 baseline).

In 2019 Maersk announced its commitment to becoming carbon neutral by 2050. The new finance facility affirms Maersk’s efforts to drive sustainability into its operations and supply chains.

 “We are determined to reach our ultimate target of becoming fully carbon neutral by 2050, and this agreement serves as another enabler for us to deliver on that ambition. Given the lifespan of our fleet, we need to find new and sustainable solutions to propel our vessels within the next 10 years. To realize this ambitious commitment, we are partnering with researchers, regulators, technology developers, customers, energy providers – and now banks, ” explains Henriette.

Banco Santander S.A., London Branch, Bank of America Merrill Lynch International Designated Activity Company, Barclays Bank Plc, BNP Paribas, Citibank N.A. London, Commerzbank Aktiengesellschaft, Crédit Agricole Corporate and Investment Bank, Danske Bank A/S, Deutsche Bank, Handelsbanken, HSBC France, MUFG, Nordea, SEB and Standard Chartered Bank, joined as mandated lead arrangers.

Banco Bilbao Vizcaya Argentaria, S.A., London branch, DNB Bank ASA, Industrial and Commercial Bank of China (Europe) S.A., Brussels branch, ING Bank, J.P. Morgan Securities Plc, Mizuho Bank, Ltd., Morgan Stanley Bank International Limited, Natwest Markets Plc, Sumitomo Mitsui Banking Corporation, Société Générale and the Standard Bank of South Africa Limited, Isle of Man branch, joined as lead arrangers.

Crédit Agricole and SEB acted as Sustainability Coordinators. MUFG acted as Documentation Agent and BNP Paribas as Facility Agent.

Related Posts

MOL, MOL Drybulk, J-ENG Sign Agreement for Trial of Hydrogen-fueled Engine equipped Onboard

by Maritime1.com
09.11.2021
0

TOKYO—Mitsui O.S.K. Lines, Ltd. (MOL), MOL Drybulk, Ltd., and Japan Engine Corporation (J-ENG) today announced the signing of a...

Mitsubishi Shipbuilding and NYK Line Agree to Jointly Develop a Large LCO2 Carrier

Mitsubishi Shipbuilding and NYK Line Agree to Jointly Develop a Large LCO2 Carrier

by Maritime1.com
09.11.2021
0

Mitsubishi Shipbuilding, a part of Mitsubishi Heavy Industries (MHI) Group, and Nippon Yusen Kabushiki Kaisha (NYK Line) have agreed...

Shipping the Critical Enabler in Global Transition, ABS Chairman, President and CEO Tells COP26

Shipping the Critical Enabler in Global Transition, ABS Chairman, President and CEO Tells COP26

by Maritime1.com
08.11.2021
0

Shipping is the critical enabler in the world’s transition to low carbon operations and needs Government support to ensure...

Rolls-Royce to supply MTU engines for 80-ton bollard pull tugboats in Brazil

Rolls-Royce to supply MTU engines for 80-ton bollard pull tugboats in Brazil

by Maritime1.com
08.11.2021
0

Rolls-Royce has secured a significant contract to supply eight of its mtu 16V 4000 M65L engines for four 80-ton bollard pull...

Scandlines orders zero emission ferry for the Puttgarden-Rødby route

Scandlines orders zero emission ferry for the Puttgarden-Rødby route

by Maritime1.com
08.11.2021
0

Scandlines has entered into a contract with Cemre Shipyard, Turkey, to build an emissionfree freight ferry for the Puttgarden-Rødby...

MOL and COSCO co-sponsor 3rd Shanghai International LNG Shipping forum

MOL and COSCO co-sponsor 3rd Shanghai International LNG Shipping forum

by Maritime1.com
08.11.2021
0

TOKYO—Mitsui O.S.K. Lines, Ltd. today announced that on November 6, it jointly hosted the Shanghai International LNG Shipping Forum...

NYK receives delivery of new VLCC Tateshina

NYK receives delivery of new VLCC Tateshina

by Maritime1.com
08.11.2021
0

The very large crude oil carrier (VLCC) Tateshina, owned by NYK, was delivered today. The vessel was built at...

Suez Canal Authority issued new resolutions concerning the fees of the transiting ships

Suez Canal Authority issued new resolutions concerning the fees of the transiting ships

by Maritime1.com
07.11.2021
0

Suez Canal Authority issued new resolutions concerning the fees of the transiting ships through the canal to be applied...

Navibulgar ordered a new series of four 45 500t bulk carriers

Navibulgar ordered a new series of four 45 500t bulk carriers

by Maritime1.com
07.11.2021
0

Navigation Maritime Bulgare ordered the building of four more 45 500t bulk carriers in the Chinese Shipyard Jiangsu New...

Maritime must be safe for women

Maritime must be safe for women

by Maritime1.com
07.11.2021
0

A brave female cadet recently published the horrific experiences of sexual assault she endured on board a vessel while...

Load More
Next Post

New IMO department will tackle key global issues through innovative partnerships

Maritime First

© 2021 Maritime Firtst - by Maritime.bg.

Navigate

  • About
  • Contact Us
  • Home 1
  • Privacy

Follow Us

No Result
View All Result
  • Buy JNews
  • Homepage
    • Home – Layout 1

© 2021 Maritime Firtst - by Maritime.bg.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist