Tallink receives finance for LNG-powered fast ferry

2019-07-14T18:37:15+00:00 July 14th, 2019|Finance|

Tallink Grupp’s subsidiary Tallink Superfast Ltd and KfW IPEX-Bank have signed a loan agreement for €197,6 mill to finance the new €247 mill LNG powered fast ferry.

The vessel is currently under construction at Rauma Marine Constructions.

Finnish Export Credit Agency ‘Finnvera’ guaranteed 95% of this post-delivery buyer credit.

The loan is secured by the mortgage on the new vessel and Tallink’s corporate guarantee.

This OECD-term export credit loan will be drawn down on the delivery of the vessel, scheduled for the beginning of 2022 and has the final maturity of 12 years from the draw down.

With a length of 212 m and with a passenger capacity of 2,800, the dual fuel shuttle ferry will be deployed on the key Tallinn/ Helsinki route.

A service speed of 27 knots will be maintained and the ferry will use LNG as her main fuel.