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First Green Loan for Van Oord

Source: www.gulfoilandgas.com 5/29/2020, Location: Asia

Van Oord has developed a Green loan framework as part of its financing strategy. The first Green Loans under the agreement were signed by Rabobank and BNP Paribas last week. The Green Loans are linked to Van Oord’s sustainability programme S.E.A. and are intended for the financing of the three new LNG trailing suction hopper dredgers currently being built by Keppel FELS Limited in Singapore.

The Green Loan is structured according to the Green Loan Principles 2020 as drawn up by the Loan Market Association, the authoritative voice of the syndicated loan market. The Green Loan Principles aim to support environmentally sustainable economic activities. Van Oord’s Green Framework contains the criteria that the vessels must meet in order to qualify for this type of loan. One of the advantages of this Green Loan Framework is that additional green loans can be added to the framework in the future.

With the Green Loan Framework we are leveraging Van Oord’s sustainability strategy to our financial partners. I am proud that we have now taken out the first Green Loan for the three sustainable vessels. Danielle van Rieven, Director Treasury

The new trailing suction hopper dredgers are part of Van Oord's innovative investment programme and fit in with Van Oord’s ambition of making its fleet more economical and energy efficient. The vessels will obtain a Green Passport and Clean Ship Notation and by using LNG, van Oord will reduce the emissions of its fleet.

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