Finnish shipping company Containerships has secured funding for its liquefied natural gas (LNG) project by the European Union and the Nordic Environment Finance Corporation (NEFCO).
With the grant, the company said it will implement its eco-friendly strategy, which is based on using LNG throughout its logistics supply chain.
Containerships intends to be the first company in Europe to establish a logistics chain based entirely on LNG.
At the moment, the Chinese Wenchong Shipyard is building four 1,400 TEU LNG-fueled container ships for the company, scheduled for delivery by the end of 2018.
The keel laying ceremony for the first LNG vessel and the steel cutting ceremony for the second LNG vessel is set to be held in China on April 7, 2017, the company’s statement reads.
The funding provided by the European Union, in the amount of €16.9 million (Approx: US$18 million), will be allocated for ship investments (€10.7 million) while €6.2 million will be used for the development of a European LNG terminal network with other partners involved in the project.
The Nordic Environment Finance Corporation (NEFCO) has decided to invest €5 million in supporting the company’s environmental strategy in the Baltic Sea region.
In addition to new ships, the company said it plans to also invest in LNG trucks. Containerships is already operating more than 40 LNG-powered trucks, while the plan is to increase the number to 150–200. Furthermore, the company has invested in an LNG refueling station located in the United Kingdom.
The combined value of the investments made by Containerships amounts to approximately €150–200 million, including acquisitions for both maritime and road traffic.
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LNG World News Staff