Van Oord has developed a Green Loan Framework as part of its financing strategy and the loans under the agreement were signed by Rabobank and BNP Paribas. These loans are linked to Van Oord’s sustainability program S.E.A. and are intended for the financing of the three new LNG-powered trailing suction hopper dredgers currently being built by Keppel FELS Limited in Singapore.
The loan is structured according to the Green Loan Principles 2020 as drawn up by the Loan Market Association, the authoritative voice of the syndicated loan market. These principles aim to support environmentally sustainable economic activities, and Van Oord’s Green Framework contains the criteria that the vessels must meet in order to qualify for this type of loan. One of the advantages of this framework is that additional green loans can be added in the future.
“With the Green Loan Framework we are leveraging Van Oord’s sustainability strategy to our financial partners. I am proud that we have now taken out the first Green Loan for the three sustainable vessels,” said Danielle van Rieven, Director Treasury.
The new trailing suction hopper dredgers are part of Van Oord’s innovative investment program and fit in with the company’s ambition of making its fleet more economical and energy efficient. The vessels will obtain a Green Passport and Clean Ship Notation and by using LNG, Van Oord will reduce the emissions of its fleet.
Source: Van Oord