Financial institution Societe Generale on Tuesday became the first bank to join SEA/LNG coalition, a multi-sector industry group created to accelerate the widespread adoption of liquefied natural gas (LNG) as a marine fuel.
Societe Generale will bring an essential financial perspective to the group, says the chairman and executive vice president of SEA/LNG coalition.
“Innovative financing is a core component to breaking down barriers to adoption and Societe Generale is at the forefront of developing frameworks to support this
evolution,” says Peter Keller.
“We are therefore delighted to welcome them to our growing coalition and look forward to benefiting from their extensive knowledge and experience.”
Paul Taylor, Global Head of Shipping Finance, Societe Generale Corporate & Investment Banking, believes the use of LNG as a marine fuel to be gradually becoming a “global reality”.
“Societe Generale wants to play a key role in supporting the SEALNG coalition to realise its goal of making LNG a viable maritime fuel for 2020 and beyond,” he notes.
“This strategic membership will help develop a long-term financial framework which we hope will contribute to, and supplement, the work of other industry leaders in the LNG shipping value chain.”
Societe Generale in December 2017 supported the first transaction for the European Union’s recently instituted Green Shipping Guarantee programme which is designed both for general fleet renewal and the retrofitting of ships with sustainable technologies.
The bank acted as the sole mandated lead arranger, lease investor, facility and security agent, hedge provider, and lender in a EUR 142.6 million French lease financing of Honfleur, the first LNG-powered ferry to be commissioned by Brittany Ferries.
Publication date: 10 January, 2018
Octamar™ Ultra HF, Octamar™ Complete, and Octamar™ F35C were found to have improved the fuel economy while reducing exhaust gas and other emissions of marine engines in a series of trials, states report.
Disposal of evidence has resulted in Singapore not being able to provide full details to the United Nationals Panel of Experts which sought information regarding the case, says Ministry of Foreign Affairs.
‘We are proud to be amongst the first to show the successful steps taken by Singapore’s bunkering ecosystem to remain forward thinking and relevant,’ Choong Sheen Mao, Director of EMF, tells Manifold Times.
‘With the launch of a common data infrastructure, Kenoil aims to continue achieving an end to end visibility and transparency on the bunker data supply chain,’ states Kenoil Managing Director.
Digitalization can help shipping achieve its decarbonization goals but only if human factors are considered enough when introducing smarter maritime operations with ‘user-friendly’ technology.
Anand S/O Omprekas, Noruliman Bin Bakti, and Muhammad Khairul Asri Bin Mohamad Hanafiah were tasked to verify the quantity of cargo supplied to vessels by Shell Eastern Petroleum Private Limited.