Fincantieri gets ‘green’ loan for cruise ship design

2024-01-13T13:57:36+00:00 January 13th, 2024|Finance|

Italian shipbuilder, Fincantieri, has signed a ‘green’ construction loan deal amounting to €415 mill with Intesa Sanpaolo (IMI Corporate & Investment Banking Division) and Cassa Depositi e Prestiti (CDP).

The funds will be used to build the ‘Mein Schiff Relax’, the first vessel in the inTUItion class – an LNG and marine gas oil (MGO) dual-fuel cruise ship series designed for TUI Cruises.

This financing arrangement represents Fincantieri’s first venture into a pooled arrangement of this type.

Dubbed ‘green’, the funding has been put together, due to the project’s adherence to the European Taxonomy’s climate change mitigation objectives.

‘Mein Schiff Relax’ qualifies as a low-carbon emission ship.  Her design is claimed to have a 10% less value on the IMO’s Environmental Efficiency Design Index (EEDI) requirements and a propulsion unit powered by zero-emission or renewable-source fuels.