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Financing case: Financing of export and installation of retrofit equipment for 31 vessels with GIEK cover for Quantum Pacific Shipping

Project profile – financing:

  • Retrofit financing of 31 marine exhaust gas cleaning systems for Quantum Pacific Shipping
  • Tenor up to 5 years
  • 80% GIEK cover

Contribution of KfW IPEX-Bank:

  • Loan of up to USD 72 million
  • KfW IPEX-Bank acts as sole lender
  • Leading bank for retrofit programmes in the maritime industry, and thus contributing to climate protection despite the long investment cycles for ships
  • Support for European suppliers
  • 2019 Marine Money Award - Green Ship Finance Deal of the Year

Project profile – vessels:

  • Marine retrofit equipment from Norwegian Clean Marine AS
  • Installation at Samkang Shipyard (Korea), Cosco & Chang Hong (China) and Gemak (Turkey)
  • Compliant with the IMO 2020 sulphur emissions regulation
  • Installation period of up to two years to complete the retrofit for 31 vessels