| Code: 126574 |

TIN news:  Containerships, Finnish family-owned company, announced that has been granted substantial funding for its liquefied natural gas (LNG) project, by the European Union and the Nordic Environment Finance Corporation (NEFCO). With the grant, the Finnish shipping company will implement its eco-friendly strategy, which is based on using LNG throughout the Company’s logistics supply chain.
Containerships intends to be the first company in Europe to establish a logistics chain based entirely on LNG. At the moment, the Chinese Wenchong Shipyard is building four LNG cargo ships for the Company in China, scheduled for delivery by the end of 2018. The Keel Laying Ceremony of the first LNG vessel and the Steel Cutting Ceremony of the second LNG vessel is held in Guangzhou on April 7.
The implementation of the company strategy is supported by substantial project funding of EUR 16.9 million granted by the European Union. EUR 10.7 million of the funding 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.
The Nordic Environment Finance Corporation (NEFCO) has decided to invest EUR 5 million in supporting the Company’s environmental strategy in the Baltic Sea region.
“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,” said CEO of Containerships plc Kari-Pekka Laaksonen.
In addition to new ships, the Company will also invest in LNG trucks. The company is already operating more than 40 LNG-powered trucks. The plan is to increase the number to 150–200. Furthermore, it has invested in an LNG refuelling station located in the United Kingdom.
The combined value of the investments made by Containerships amounts to approximately EUR 150–200 million, including acquisitions for both maritime and road traffic.
“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” Laaksonen stated.

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