Sinosure Insures $55 Million Financing for MPCC's 'Carbon-Neutral' Shipping Project

by Axton Global
sinosure mpcc project
Sinosure, the China Export & Credit Insurance Corporation, has recently provided insurance for a $55 million pre- and post-delivery ECA covered financing agreement between Norwegian shipowner MPC Container Ships (MPCC) and Deutsche Bank for two "carbon-neutral" container ships.

These two vessels, scheduled for delivery by the end of 2024, are backed by 15-year time charter agreements with North Sea Container Line (NCL). According to MPCC, the loan will mature in 2036.

The construction of these vessels will be overseen by the Chinese-based shipyard Taizhou Sanfu Ship Engineering. Equipped with dual-fuel engines enabling operation on green methanol, the vessels represent a significant step towards environmental sustainability in shipping.

Deutsche Bank has classified this financing arrangement as sustainable finance, aligning with its Sustainable Finance Framework.

Moritz Fuhrmann, CFO of MPCC, expressed his enthusiasm for the project, highlighting its role in supporting the green transition in shipping and bringing together long-term industry partners.

“The new financing agreement serves as validation of the technology and structure of this project and our ambitious goal of establishing the first green transportation corridor in Northern Europe. It furthermore adds financing at attractive rates with long duration, thus preserving our strong balance sheet and flexibility, in line with our general leverage strategy and capital allocation principles,” said Moritz Fuhrmann.

We help importers from all over the world to improve their trading terms with Chinese suppliers and extend payments to the supplier for 90 to 120 days using the Sinosure credit insurance tool

We help companies to obtain a new Sinosure credit limit, increase existing credit and provide comprehensive consulting services regarding Sinosure credit insurance
Learn more
Our Services
Register your company with Sinosure to access trade credits from suppliers.
Obtain a new Sinosure credit limit for your company to negotiate deferred payments.
Expand your company's current Sinosure credit limit if you need to supply more goods.
Contact Us
Book a free online consultation with our specialist.
Axton Global is an international consulting company helping importers worldwide secure trade credit terms with Chinese suppliers.

We serve customers from 82 countries across 5 continents.
By clicking the Submit button, you agree to our Data Use Policy
Legal Information