Creation of a Special Purpose Company for the Renewal of the Hellenic Coastal fleet

By | 2020 Newsletter week 42 | No Comments

A comprehensive financing plan for ferry companies, with the aim of renewing the Greek ferry fleet, by the end of 2030: that is the aim of a study commissioned by the Hellenic Chamber of Shipping, and awarded to PwC.

The creation of a Special Purpose Vehicle company (SPV), with the participation of the public sector (Hellenic Development Bank, Hellenic Chamber of Shipping) is the solution put forward. It will facilitate the renewal of the 115 coastal ferries as well as the 124 smaller ships and landing ferries.

Furthermore, the study proposes the SPV Company to act as an investment platform.

The renewal of the Hellenic Coastal Shipping fleet is of great importance, not only for national reasons, but also due to the development of the idea of the “green” shipping, which creates new challenges for ferry companies and call them to invest soon in newbuildings.

It is noted that 40% of the Hellenic Coastal fleet, by the end of the decade, will be over 40 years old while none of the existing ferries will meet the requirements for reduced CO2 emissions set by the European Commission.

TECHNOLOGY

By | 2019 Newsletter week 20 | No Comments

By replacing traditional lubrication oil and fuel oil separators with a filter solution from GreenOil Standard ApS, the energy consumption will significantly be reduced. This contributes to the Wasaline ro-pax ferry to be among the world’s most efficient and environmentally sustainable ships by reducing the CO2 emission, with an estimated +16 ton/year when running on LNG, using the filtration systems instead of the separators.
In addition to the environmental aspect Wasaline gets pure cost saving in operational cost and maintenance.

TRADE ASSOCIATIONS

By | 2018 Newsletter Week 17 | No Comments

ESPO Applauds EU Role In Achieving The IMO Agreement On CO2 Reduction Target For Shipping

ESPO welcomes the agreement reached at global level within the IMO to peak CO2 emissions from shipping as soon as possible and reduce them by at least 50% by 2050, compared to 2008 levels. For European ports, the agreement reached last week is a real milestone and sends a strong signal that the IMO can take action.