The loan is related to the sustainability perfomance of the organization and is issued by Nordea, acting as coordinator and bookrunner, with Credit Agriole CIB acting as agent of sustainability.

Under the terms of the loan, the credit margin will be adjusted, upwards or downwards, based on the sustainability performance of the company, as defined by the ability of the company to meet its objective of reducing CO2 emissions per ton of transported cargo per nautical mile (EEOI) and reducing absolute CO2 emissions per ship.

The KCC 's goal is to be carbon neutral by 2030, to meet the 2030 carbon intensity target of the International Maritime Organization by 2022 and to reduce absolute emissions per vessel by 15 percent between 2018 and 2022.

KCC's sustainability performance / KPIs will be disclosed on a quarterly basis on the way to achieving these goals and main KPIs will be subject to an annual external audit.

“We strongly believe in the greening of capital and that access to competitive funding going forward will be based on the ability to deliver green transformation. Linking pricing to emissions performance demonstrates our commitment towards our targets to substantially improve CO2 efficiency in our fleet,” says Liv Dyrnes, CFO of Klaveness Combination Carriers ASA.

“The resulting high utilization and efficiency already makes KCC’s fleet the most carbon efficient deep-sea transport system for tanker and dry bulk cargoes in the world, with up to 40% less CO2 emitted per transported ton compared to standard vessels,” he added.

Maritime Business World