Overview
In the green investments program of Marine Money Green we will be investigating the different technologies, procedures and hardware that can be used to reduce carbon emissions and return a positive investment to shareholders. The focus will be on the business case of these new carbon reduction capabilities and how the financial case can be made for them for owners and managers.
Current investment focus will be on:
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Retrofits
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Alternative Fuels
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New build designs
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Digital tools for vessel optimization
Event Videos
Green Investment Articles
The New Class of CII Rating Specialist Impacting the Bottom Line
Mar 28, 2022
With real money on the line, emissions data and all manner of calculations derived from it are now moving from the realm of “obscure” (lurking in the file cabinets of owners’ technical departments) to widely available public disclosures. Not surprisingly, a number of new product introductions occurred in conjunction with the IMO’s MEPC 77 then the COP26 meetings in November 2021- where the CII ratings timeline over the next few years was solidified.
A Masterfully Executed Campaign: The Institutional Debt Deals of the Year
Mar 1, 2022
This is not an award for a single transaction, but instead acknowledges the brilliant execution of a strategy. Back in November 2018, Atlas Corp. (then Seaspan Corporation) laid out its plans for the future of the company in its Investor Day presentation.
e1 Marine & the $40 million win, Win, WIN!: The Preferred Equity Deal of the Year
Mar 1, 2022
Shipping companies generally issue preferred shares for three basic reasons: (1) they need the cash; (2) their balance sheet can’t support more cheap debt; and (3) their share price is so low that issuing common equity would be unduly dilutive to shareholders.
Reaping digital rewards: API pot of gold at the end of the rainbow for shipping
Mar 17, 2022
Data-sharing could unlock billions of dollars in commercial benefits for shipping as well as accelerate decarbonisation. But legacy systems and a restrictive mindset are hindering the industry’s digital transformation and stalling the vital transition to an API economy seen in other industries.
Höegh Autoliners Equity Private Placement to Fuel Green Transition of Fleet: Equity Private Placement Deal of the Year
Mar 1, 2022
On November 24th, 2021, Höegh Autoliners, one of the leading global operators in the car carrier shipping segment, completed a landmark private placement of NOK 1,365m (USD 135m).
Green Investment Deals
Headline
Yara International a secures large credit facility
Company
Yara International ASA
Type
Revolving Credit Facility
Sector
Infrastructure
Amount (mUSD)
1400
Transaction Date
3/20/25
Comments
Yara has signed a multicurrency revolving credit facility with a syndicate of 11 banks. The facility matures in March 2030, with options for extension until March 2032 on certain terms. The facility replaces an existing
facility due to expire in July 2026.
Headline
MPC Container successfully taps one of its senior unsecured bonds
Company
MPC Container Ships ASA
Type
Tap Issue
Sector
Container
Amount (mUSD)
75
Transaction Date
3/20/25
Comments
Net proceeds from the tap issue will be applied towards general corporate purposes, including refinancing of existing financial indebtedness and acquisition of maritime assets.
Headline
TECO 2030 completes second tranche of a private placement with a green infrastructure investor
Company
TECO 2030
Type
Equity
Sector
Infrastructure
Amount (mUSD)
1
Transaction Date
8/30/24
Comments
Second tranche of the Advait Infratech Limited investment totaled NOK 10.5 million in TECO 2030 to support development of maritime hydrogen fuel cells.
Headline
Eidesvik Offshore ASA receives grant to fund conversion of the Viking Energy to dual fuel operation.
Company
Eidesvik Offshore ASA
Type
Equity
Sector
Offshore
Amount (mUSD)
6
Transaction Date
8/26/24
Comments
Eidesvik announces that their vessel Viking Energy is part of the European innovation project ‘Apollo’ where the partners will retrofit the vessel with a dual fuel engine able to operate on ammonia. The project has been granted EUR 5 million in funding from the European Union’s Horizon Europe program. Additional details were not disclosed.
Headline
TECO 2030 completes first tranche of a private placement with a green infrastructure investor
Company
TECO 2030
Type
Equity
Sector
Infrastructure
Amount (mUSD)
1
Transaction Date
7/26/24
Comments
Advait Infratech has agreed to invest NOK 11 million in TECO 2030 to support development of maritime hydrogen fuel cells.
Headline
Klaveness Combination Carriers successfully places a second bond tap facility
Company
Klaveness Combination Carriers AS
Type
Bond
Sector
Diversified
Amount (mUSD)
28.2
Transaction Date
7/2/24
Comments
The Company will use the net proceeds from the senior unsecured sustainability-linked bonds for general corporate purposes, which may also include refinancing of debt.
Headline
Paratus Energy Services Ltd – completes Bookbuilding successfully
Company
Paratus Energy Services
Type
Equity
Sector
Offshore
Amount (mUSD)
74.8
Transaction Date
6/24/24
Comments
Gross proceeds were of the NOK equivalent of USD 75 million. The net proceeds from the Offering will be used for general corporate purposes and to increase balance sheet flexibility. The Company applied for admission to trading on Euronext Growth Oslo, and the listing application is expected to be considered by the Oslo Stock Exchange on 26 June 2024.
Headline
Norway's Enova has over NOK 300 million funds available from largest ever Enova funding round
Company
Halten Bulk AS
Type
Equity
Sector
Diversified
Amount (mUSD)
29.6
Transaction Date
6/19/24
Comments
The remaining funds, NOK 312.6 million (USD 29.6 million), after funding five projects totaling NOK 887.4 million (USD 83.9), is part of the largest ever Enova funding round at NOK 1.2 billion (USD 113.5 million) supporting the green maritime transition. The purpose of the funding is to establish the first functioning value chains for ammonia and hydrogen for maritime purposes.
Headline
Norway's Enova provides second round of funding to Napier AS for its ammonia fueled vessel program
Company
Napier AS
Type
Equity
Sector
Other
Amount (mUSD)
11.6
Transaction Date
6/19/24
Comments
The funding, NOK 123 million (USD 11.6 million), is part of the largest ever Enova funding round at NOK 1.2 billion (USD 113.5 million) supporting the green maritime transition. The purpose of the funding is to establish the first functioning value chains for ammonia and hydrogen for maritime purposes.
Headline
Norway's Enova provides second round of funding to Amon Maritime for its ammonia fueled vessel program
Company
Amon Maritime
Type
Equity
Sector
Drybulk
Amount (mUSD)
17
Transaction Date
6/19/24
Comments
The funding, NOK 180 million (USD 17 million), is part of the largest ever Enova funding round at NOK 1.2 billion (USD 113.5 million) supporting the green maritime transition. The purpose of the funding is to establish the first functioning value chains for ammonia and hydrogen for maritime purposes.
Headline
Norway's Enova provides second round of funding to Höegh Autoliners ASA for its ammonia fueled vessel program
Company
Höegh Autoliners AS
Type
Equity
Sector
Drybulk
Amount (mUSD)
10.3
Transaction Date
6/19/24
Comments
The funding at NOK 109.4 million (US 10.3 million) is part of the largest ever Enova funding round at NOK 1.2 billion (USD 113.5 million) supporting the green maritime transition. The purpose of the funding is to establish the first functioning value chains for ammonia and hydrogen for maritime purposes.
Headline
Yara International secures a major bond placement in three tranches - Tranche 3
Company
Yara International ASA
Type
Bond
Sector
Infrastructure
Amount (mUSD)
65.5
Transaction Date
6/11/24
Comments
Tranche 3 totals NOK 700 million (USD 65.5 million) of ten year bonds. Total of the three tranches is NOK 2.75 billion. An amount equal to the net proceeds from the green bond issuance will be used in accordance with Yara's Green Financing Framework. An application will be made for the bonds to be listed on Oslo Børs.