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.


By | 2019 Newsletter week 51 | No Comments

Shipping Sector Proposes USD 5 Billion R&D Board to Cut Emissions

The global maritime transport industry has submitted a proposal to form the world’s first collaborative shipping R&D programme to help eliminate CO2 emissions from international shipping. The proposal includes core funding from shipping companies across the world of about USD 5 billion over a 10-year period.

Highlights of the proposal:

  • A new non-governmental Research & Development organisation to pave the way for decarbonisation of shipping.
  • Core funding from shipping companies across the world of about USD 5 billion over a 10-year period.
  • To accelerate the development of commercially viable zero-carbon emission ships by the early 2030s.

“Greta Thunberg is right to say that ‘creative accounting and clever PR’ often lie behind supposed commitments to sustainability, but our plans are transparent, and our regulator has teeth. Now we ask the wider shipping community for their blessing. Change on this scale is difficult and often daunting. But in this case, it could not be more necessary. “

-Guy Platten, Secretary General International Chamber of Shipping


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.