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Green deal for pioneering gas tanker specialist

Rotterdam-based Anthony Veder is an integrated shipping company that specialises in shipping liquefied gas products for its long-standing clients in the, chemicals, oil and gas industries. Over the past ten years, the company has expanded by investing in innovative small and medium-sized gas carriers. Today, its fleet consists of 31 vessels, which are contracted through cargo contracts and long-term charters to major European cargo traders.

The company has turned to NIBC to finance two of its existing carriers, as well as the pre-delivery of an innovative new LNG bunkering vessel named ‘Energice’. The revolutionary new tanker, which was recently commissioned for construction in Germany, will use the boil-off from its own cargo to fuel its propulsion system, thereby significantly reducing its emissions.

The assignment

We closed a US$ 25 million plus EUR 8 million bilateral financing facility with the ship owner and operator in 2016.

Adding value

Anthony Veder was satisfied with NIBC’s quick and pragmatic approach to the deal, which has been further supported by our longstanding relationship with this important client.

NIBC is a first mover in the introduction of so-called ‘Green Scrapping’ language into its loan agreements, which ensures that ships are environmentally and socially responsible recycled at the end of their economic lifetime. NIBC is proud to be a frontrunner in supporting green shipping standards, which have now been endorsed by a major ship operator like Anthony Veder.

Delivering results

Once delivered, the Energice will be chartered out to integrated gas company Gasum in Finland, to secure LNG needs in the northern region of that country. By eliminating the use of heavy fuel oils, the vessel will generate much lower carbon and nitrogen oxide emissions and a near 100% reduction in sulphur emissions.

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