World News
PROW Capital Launches €420 Million Green Shipping Debt Fund
Investment firm PROW Capital has launched a €420 million fund seeking to provide credit to shipowners for decarbonisation expenditure.
The firm is aiming for an average loan size of €15-50 million, it said in an emailed statement on Thursday. Shipowners will need to demonstrate that their vessel plant outperform existing emissions regulations.
"We are driven by the scale of the impact we can make," Menno van Lacum, a director at PROW Capital, said in the statement.
"Against a backdrop of worldwide deleveraging, retrenchment of sector banks and increasing international urgency to tackle climate change, we are providing a new approach to ship financing, working collaboratively to deliver green deals to meet the industry's drive to reduce its impact on the planet."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 655.50 | 2.00 | 808.50 | 4.50 |
| Rotterdam | 619.00 | 0.00 | 789.00 | 8.00 |
| Houston | 628.50 | 7.50 | 812.50 | 1.50 |
| Fujairah | 653.50 | 4.50 | 900.00 | 2.50 |
| Global 20 Ports Average | 672.00 | 0.50 | 885.00 | 7.00 |
| Global 4 Ports Average | 639.00 | 2.50 | 827.50 | 2.00 |
| Global Average Bunker Price | 727.50 | 1.50 | 933.50 | 5.00 |
Popular Now More
-
Apr 18Singapore's authorities are in the process of developing a regulatory framework for a methanol bunkering licence, and plan to call for applications for the licence by the end of this year. -
Apr 16The firm will acquire majority ownership of the Spanish firm for an undisclosed sum, subject to closing conditions and regulatory approvals. -
Apr 18The company is looking for candidates with at least seven years of experience, both as a trader and a manager.