Norway funds eco-friendly vessels

Teekay Offshore has secured financing as well as state-support from Norway's government for four new and eco-friendly tankers. Wärtsilä will supply technology for the vessels.

Photo: PR-foto: Teekay Tankers & Wärtsilä

Norway's government has elected to provide a credit facility and guarantee of USD 165.5 million for the development of four eco-friendly shuttle tankers for Teekay Offshore, announce financial institutions Export Credit Norway and GIEK (Norwegian Export Credit Guarantee Agency), which are responsible for the funding on behalf of the Norwegian government and several commercial banks.

The ships will be equipped with technology from Wärtsilä and Teekay, which reportedly means they will have a zero-emission of volatile organic compounds (VOC) and a significantly lower emission of CO2.

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