Maersk Group, the world's largest shipping company, has received a loan of 5 billion dollars to achieve its green shipping goal and reduce net carbon emissions to zero by 2050.
It is reported that Maersk Group has obtained a sustainable revolving credit loan from a consortium of 26 selected banks, amounting to 5 billion dollars. This is Maersk's first bank refinancing after transforming itself from a diversified group to a global container logistics company.
The Maersk Group announced its carbon neutral goal in 2019, aiming to reduce carbon dioxide emissions per cargo by 60% by 2030 and achieve net zero CO2 emission by 2050. This is more ambitious than the International Maritime Organisation's goal of a 40% reduction by 2030 and more than 40% by 2050.
Maersk believes that the new financing confirms the efforts to promote the sustainability of its operations and supply chain. In order to achieve the goal, by 2030, carbon-neutral container ships must be commercially viable, and the development and application of new technologies need to be accelerated.
Henriette Hallberg Thygesen, Chief Executive Officer of Maersk Fleet and Strategic Business, said: "We are determined to achieve the ultimate goal of complete carbon neutrality by 2050, and this financing agreement is another support for our goal."
"Considering the service life of our fleet, we need to find new sustainable solutions for ship propulsion system in the next 10 years. In order to achieve our ambitious carbon neutral commitments, we are cooperating with researchers, regulatory agencies, technology developers, customers, energy suppliers and banks."
Specifically, the new loan will refinance 5 billion dollars of unused loan due in 2021, with a term of 5 years and a maximum extension of two years, which will become part of Maersk’s liquidity reserve.
Tygerson said: "We have received strong support from global cooperative banks. And we are satisfied with the terms and conditions of the new financing. Through the new financing arrangements, we have extended the period of financing commitments while maintaining our sustainability commitments. "
It is known that the leading banks for this loan include Spanish International Bank, Bank of America, Barclays Bank, BNP Paribas, Citibank, Commerzbank, Credit Agricole, Danske Bank and Deutsche Bank.