EMEA News
Finnish Cargo Operator Orders More LNG Powered Vessels
Finnish cargo company Containerships Ltd Oy will order two more liquefied natural gas (LNG) containerships, bringing its total LNG-fueled fleet to six, the company announced.
Containerships said that it had closed its senior secured bond issue last week after raising €45 million ($48.4 million), which will partially finance the vessel purchase.
"Our strategy is to stay well ahead of the curve when it comes to environmental regulations, and to be a pioneer in eco-friendly shipping while continuing to offer customers the best value for money," said Kari-Pekka Laaksonen, CEO of Containerships.
"By securing the financing for the purchase of two new LNG-driven vessels, Containerships may now materialize this strategy."
The six vessels will be built in China, and are the company's method-of-choice to comply with stricter sulfur regulations, which limited sulfur content in marine fuel used in Emission Control Areas (ECA) to 0.10 percent as of January 1, 2015.
"It is important to emphasise that in order to meet future regulations, most competitors on the market will use alternative solutions, such as marine gas oil with decreased sulfur content," Laaksonen said.
"These options do not require the same level of investment as the solution Containerships has chosen."
In September 2014, the company announced its intention to become the first shortsea container operator in Europe to run ships on LNG.
