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Finnlines secures loan of EUR 30 million for hybrid cargo vessels

Finnlines secures loan of EUR 30 million for hybrid cargo vessels

Finnish ferry operator Finnlines, which is part of the Italian Grimaldi Group, has secured EUR 30 million in loans to finance the acquisition of its three new hybrid cargo vessels.

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The loan was negotiated with the Nordic Invesment Bank (NIB).

The environmental roll-on/roll-off (RoRo) vessel trio was requested by Finnlines in China back in 2018. Construction began in June 2020 for the first unit and in September for the second.

The three RoRos are part of the ongoing EUR 500 million new construction program by Finnlines, which also includes two eco-friendly roll-on / roll-off passenger (RoPax) Superstar ships.

The new RoRos will be fitted with high-powered battery banks and photovoltaics, allowing the ships to use electricity when docked and to run emission-free. The ships are expected to be delivered between 2021 and 2022 and will operate on routes between Europe and Finland.

“Freight transport services play an important part in Finland’s logistics chain. Commercial shipping still causes significant air emissions, so we are supporting investments that contribute to cleaning and increasing the efficiency of the sector,” Henrik Normann, NIB President & CEO commented.

Maritime Business World 

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