Containerships Secures Funding for LNG Push

Containerships Finlands Containerships plc has secured EUR 16.9 million (USD 18m) to finance the project of implementing the use of  liquefied natural gas (LNG) throughout the container shipping company’s logistics supply chain. Containerships has been awarded the funds by the European Union and the Nordic Environment Finance Corporation (NEFCO). EUR 10.7 million will be allocated for ship investments, and EUR 6.2 million for the development of a European LNG terminal network with other partners involved in the project. Additionally, NEFCO decided to invest EUR 5 million in supporting the company’s environmental strategy in the Baltic Sea region. Containerships plans to invest up to EUR 200 million in an effort to become the first European company to run its entire supply chain, both onshore and offshore, on LNG. At the moment, the Chinese Wenchong Shipyard is building four LNG containerships for the company, scheduled for delivery by the end of 2018. The keel laying ceremony for the first LNG vessel and the steel cutting Cceremony of the second LNG vessel will be held in Guangzhou on Friday, April 7.