EnergyWatch

Shipping companies raise huge sums in sustainability-linked credit facilities

Seaspan, Hafnia, Hapag-Lloyd, Euronav and Odfjell have all secured financing of approximately USD 1.5bn that is linked to meeting climate targets. This opens up for more access to capital, but also comes with increased reputation risks, the head of investor relations at Odfjell tells EnergyWatch's sister media ShippingWatch.

Odfjell Head of Investor Relations at Odfjell Bjørn Kristian Røed thinks sustainability-linked financing like bank loans or bonds will grow in the coming years as investors and banks increase their focus on shipping's efforts to meet climate targets. | Photo: PR-foto Odfjell

Since the turn of the year, five major carriers have secured sustainable financing of approximately USD 1.5bn, according to an estimate produced by ShippingWatch.

This is a type of financing where carriers receive certain benefits, but in turn have to deliver on specific climate targets, such as increasing the energy efficiency of their fleets or reducing their carbon intensity towards 2030.

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