Poseidon Principles

Sovcomflot Incorporates Poseidon Principles for LNG vessels

Sovcomflot and NYK Line have signed a new USD 176 million non-recourse credit facility for eight years with three leading international banks, reports Steel Guru.

The three banks
  1. Sumitomo Mitsui Banking Corporation of Japan;
  2. Societe Generale of France, and 
  3. Shinsei Bank of Japan. 
What will the facility be used for?

The facility will be used towards refinancing two ice-class LNG carriers servicing 

  1. the Sakhalin-2 project, Grand Aniva and 
  2. her sister ship Grand Elena.

These are jointly owned and...

http://mfame.guru/sovcomflot-incorporates-poseidon-principles-for-lng-vessels/

What Do the Poseidon Principles Promise?

  • A number of the world’s biggest banks have joined forces with the Global Maritime Forum and other industry leaders to develop the Poseidon Principles.
  • The initiative is expected to evolve as the IMO further defines its ultimate ambition for climate mitigation.

A selection of the world’s biggest banks have joined forces with the Global Maritime Forum and other industry leaders to develop the Poseidon Principles, a world-first global agreement among financial institutions seeking to decarbonise...

http://mfame.guru/what-do-the-poseidon-principles-promise/

Banks push the box lines to reduce emissions, while air cargo procrastinates

Box lines are set to come under more environmental pressure, following a decision by major banks to factor emissions into lending decisions. 
Eleven major banks, with total loan portfolios to global shipping worth some $100bn, will add climate considerations into lending decisions to incentivise industry decarbonisation. 
The banks will use the Poseidon Principles as a framework for assessing the sector. They are consistent with the IMO’s Greenhouse Gases Strategy, which states that emissions...

https://theloadstar.com/banks-push-the-box-lines-to-reduce-emissions-while-air-cargo-procrastinates/

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