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Containerships plc receives funding for LNG project

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LNG Industry,

Finnish company Containerships plc has announced that it has been granted substantial funding for its LNG project by the European Union (EU) and Nordic Environment Finance Corp. (NEFCO).

Containerships plans to be the first company in Europe to develop a logistics chain based completely on LNG. Currently, the Chinese Wenchong Shipyard is constructing four LNG cargo ships for the company, scheduled for delivery by the end of 2018. The keel laying ceremony for the first LNG vessel and the steel cutting ceremony of the second vessel will be held on 7 April 2017 in Guangzhou.

The company’s plans will be supported by the €16.9 million provided by the European Union (EU). €10.7 million of this will be used for ship investments, whilst €6.2 million will be used for the development of a European terminal network with other partners involved in the project.

NEFCO has also decided to invest €5 million to support the company’s environmental strategy in the Baltic Sea area.

Kari-Pekka Laaksonen, the CEO of Containerships plc, said: “The participation of the European Union and NEFCO in the project gives us considerable support for building the first eco-friendly supply chain in Europe.”

As well investing in ships, the company will also invest in LNG trucks. Currently, the company operates over 40 LNG-fuelled trucks, but has plans to increase this number to 150 – 200. The company has even invested in an LNG refuelling station in the UK.

Combined, the investments made by the company are valued at €150 – 200 million, including acquisitions for both maritime and road traffic.

Laaksonen added: “According to feedback from our customers, in the future, an increasing number of big corporations intend to use as emission-free supply chains as possible. For us, being environmentally friendly is practical also from the business point of view. And, thanks to the improvements, we can ensure that our customers will get their money's worth.”

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