• 2019 January 26 15:21

    EUR 155 million EIB support for investment in two new cruise ferries by Irish Continental Group

    The European Investment Bank is providing EUR 155 million to finance two new passenger and vehicle ships for the ICG subsidiary Irish Ferries. The two ferries will increase passenger and cargo capacity on routes to Ireland, replace older and smaller vessels and significantly reduce emissions from the Irish Ferries fleet. The new ferries are expected to be used on both the Dublin-Holyhead and Dublin-Cherbourg routes to reflect demand for a greater choice of services from Ireland to Britain and direct to continental Europe, EIB said in its press release.

    The announcement was made as the W.B. Yeats cruise ferry made its maiden commercial voyage from Dublin to Holyhead this morning.

    The largest ever EIB support for Irish shipping was announced during a visit this morning by Andrew McDowell, European Investment Bank Vice President and Eamonn Rothwell, CEO of Irish Continental Group. The latest addition to the Irish Ferries fleet, the new W.B.Yeats, was partly financed using EUR 75 million from the EIB. The W.B. Yeats can transport 1,800 passengers, 300 cars and 165 trucks and following delivery in December, commenced sailings today on the Dublin-Holyhead Route.  The second ship, expected to be completed in 2020 and unnamed as yet, will likely transport 1,800 passengers and crew and 1,526 cars or 300 trucks.

    Eamonn Rothwell, CEO, ICG, said “Significant new investment is essential to expand the Irish Ferries fleet and better serve our customers increased demand for passenger and freight transport. The EUR 155 million financing facilities agreed with the EIB, alongside financing from leading Irish and international banks, for the two new cruise ferry ships demonstrates the EIB’s commitment to support transformational corporate investment such as this in Ireland, enabling ICG to deliver on its growth strategy and strengthening the tourism and cargo trading links in and out of the country. We were delighted to take delivery of the superb W.B Yeats in December.  The ship is the next level in terms of the experience it offers our customers.  After operating on the Irish Sea, the W.B. Yeats will move to service the busy Dublin Cherbourg route in the coming months.”

    Andrew McDowell, European Investment Bank Vice President, said “Shipping connections are crucial for Ireland and the European Investment Bank is pleased together with ICG to support two new ships that will both transform maritime transport to and from this country and cut harmful emissions. The EUR 155 million long-term EIB loans will support EUR 309 million of new investment in best in class vessels that will serve Irish routes for years to come. The new W.B. Yeats, on its maiden voyage from Dublin today, together with the second vessel will transform freight capacity and passenger travel from Ireland to the UK and continental Europe. The first approval of financing under the EIB’s Green Shipping initiative reflects firm commitment of ICG to cut emissions and improve fuel efficiency. Increasing maritime transport capacity reflects increased demand arising from Ireland’s export driven recovery and the potential need for flexibility in the event of disruption on UK routes.  In the context of EIB’s ever-increasing support for Irish private businesses, these two loans also demonstrate the value that EIB loans can provide to Irish corporates through beneficial pricing, long tenors and flexible loan structures.”

    Ireland leading the way with Green Shipping

    The long-term loan to Irish Continental Group represents the first support approved by the EIB under a new Green Shipping financing initiative that supports investment in new and existing ships to reduce emissions and improve fuel efficiency.

    The W.B.Yeats ship incorporates emissions scrubber technology to reduce sulphur oxide pollution and ballast water systems which meet current and known future environmental regulations and will deliver optimal fuel consumption and efficiencies.

    EIB support for second new Irish Ferries ship

    The EIB is providing EUR 80 million to finance construction of a second new vessel for Irish Continental Group’s Irish Ferries operations. Due for delivery during 2020, once operational this vessel will be the largest cruise ferry in the world in terms of vehicle capacity and provide Irish Ferries with an effective 50% increase in peak freight capacity.

    New ships to ensure flexible service between Ireland, Britain and France

    The new ships have been designed to enable flexible use on all existing Irish Ferries routes between Irish, British and French Ports and the vessels will be used to reflect the increased tourism and freight demand.




2021 August 4

18:27 CTRL Marine Solutions announce their acquisition by Campbell Johnston Clark
18:07 IMCA signs Gulf of Guinea Declaration on the Suppression of Piracy
17:46 Shipyard OKA launches the Alexander Ivanov, ninth dry cargo ship of RSD59 series
17:36 PSA & Samudera strengthen strategic partnership in cargo solutions and logistics
17:16 KMZ supplied water jet ejectors for a new small sea tanker of project 03182
17:15 Iridium announces partnership with Canadian Coast Guard
16:20 Port of Tanjung Pelepas jumps to 15th in world ranking
16:05 DNV and Nakilat JDP works to improve vessel software reliability and quality
15:41 Kawasaki Heavy Industries, Yanmar Power Technology and Japan Engine Corporation establish a new company HyEng Corporation
15:36 Akhtarskaya Shipyard launches RS "Chernomorets"
15:27 Registration to Development of Icebreaking and Support Fleet Int'l Conference still underway
14:43 KhMAO-Yugra to take delivery of Meteor 120R hydrofoil duo in 2021-2022
14:11 ClassNK grants its first DSS notation for 211,000DWT bulk carrier “DREAM CLOVER”
13:59 ”K” LINE and Chubu Electric Power commence joint development agreement for tidal energy project in Canada
13:40 Vostochnaya Verf completed shipyard's sea trials of the Okhotsk
12:06 LORP fleet carried 670 000 tonnes of cargo since the start of this year shipping season
11:09 Western Australia looks to implementing stricter controls
10:09 Konecranes adds Wire Rope Monitoring to TRUCONNECT portfolio
09:59 Crude oil prices edging down on coronavirus-related restrictions
09:53 Baltic Dry Index as of Aug 3
09:29 Inland waterways Azov-Don basin’s seven-month cargo volume edges up 1%
09:21 ICTSI Honduras, Big Creek Terminals ink mutual benefit pact
08:21 MABUX: Global bunker prices may continue slight downward trend on Aug 04

2021 August 3

18:17 Iridium Connected® Viettel S-Tracking Vessel Monitoring System wins Top 10 Sao Khuê Award
17:59 Lead passenger ship Meteor 120R of new generation launched in the Nizhny Novgorod Region
17:25 A subsidiary of KCC has signed a new Contract of Affreightment for its CLEANBU fleet with a major international charterer in the tanker market
16:47 Petersburg Oil Terminal obtains permit for construction of its new handling facility
16:24 Nigerian Chamber of Shipping becomes full ICS member
15:22 Vard delivers “Le Commandant Charcot” to Ponant
15:00 Bunker sales at Vladivostok port in 7M’2021 fell by 30% YoY
14:41 Construction of new facilities to commence at Onezhsky Shipyard in autumn 2021 года
14:23 CMA CGM announces PSS for cargo bound for East Russia
13:42 The Panama Canal resumes seasonal measures to protect migrating marine life
13:12 CMA CGM announces THC for Novorossiysk, Russia import/export
12:57 ABP’s Ports of Ipswich and Ayr enable wheat cargo to be shipped more sustainably
12:22 Wärtsilä to provide efficient service support for Brazilian river tugs despite challenging operating conditions
11:59 MOL to build series of 4 LNG-fueled car carriers
11:58 FESCO starts seasonal delivery of cargo from ports of China and the United States to Chukotka
11:36 Finnlines announces adjustment of bunker surcharge in its own container traffic
10:54 Baltiysky Zavod shipyard casts third one-piece propeller for Project MR-50 product tankers
10:30 Tallink Grupp published its statistics for July 2021
10:09 Maersk raises full-year guidance
09:57 Oil prices decrease amid coronavirus related restrictions
09:41 Baltic Dry Index as of August 2
09:23 Yaroslavsky Shipyard launches non-self-propelled dredging ship of Project RDB 66.42М
09:08 Japan’s Ministry of Internal Affairs and Communications gives the green light to Iridium services
08:58 MABUX: Global bunker prices may drop on Aug 03 following sharp decline on crude market yesterday
08:09 The largest water-rail intermodal terminal of the Yangtze River starts operations

2021 August 2

19:09 Seven dredging ships deployed for operation on Sea Canal in the Gulf of Ob
18:35 LR unveils key appointment for its Maritime Performance Services business
17:54 CMA CGM announces PSS for cargo from the Middle East Gulf to North Europe, Scandinavia, Poland, Baltic, West Med & Adriatic, East Med, Black Sea, North Africa & Morocco
17:46 LUKOIL announces new oil finding in Sayulita prospecting area of Block 10 offshore Mexico
17:30 CMA CGM has announced PSS for cargo from India to North Europe & the Mediterranean
17:28 CMA CGM announces PSS for cargo from North Europe, UK, Scandinavia, Poland & North Spain to Colombia Atlantic & Dominican Republic
17:27 Large hydrographic survey vessel of Project 23370G, Grigory Shadrin, launched in Murmansk
17:23 CMA CGM to launch a new Express Shuttle service linking East Asia to Russian Far East
17:05 Sri Lanka Ports Authority successfully reworks leaked chemical container on board
16:54 Rhenus Group plans to acquire the Polish freight forwarding and logistics company C. Hartwig
16:30 Sea Port of Saint-Petersburg enhanced its environmental safety
16:03 Maersk’s digital logistics platform Twill increases its presence in Gdansk