Tallink secures funds for LNG-powered fast ferry

Tallink secures funds for LNG-powered fast ferry

Tallink Grupp said that its Tallink Line unit and Nordea Bank Finland have signed the loan agreement in the amount of EUR 184 million to finance the new EUR 230 million LNG-powered fast ferry currently under construction in Meyer Turku shipyard. 

The loan is arranged by Nordea Bank and Finnish Export Credit Agency, Finnvera, guarantees 95 percent of this post-delivery buyer credit for which Finnvera’s subsidiary, Finnish Export Credit, has provided long-term financing.

The loan is secured by the mortgage on the new vessel and the corporate guarantee of Tallink Grupp, the company informed in a statement.

The dual fuel ship will be about 212 metres in length with a passenger capacity of 2800. The fast ferry is scheduled for delivery at the beginning of 2017.

The new environmentally friendly ship uses LNG as fuel and complies with the new and stricter emission regulations for the ECA areas including the Baltic Sea, Tallink Grupp added.

LNG World News Staff; Image: Tallink Grupp

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