Setrium uses green finance to raise over $1.5 billion for state-of-the-art equipment

Singapore yard group Sheetrium has increased its secured green trade finance and sustainability financing to more than S$2 billion ($1.5 billion) with its latest financing.

The Singapore-listed company late last week secured a S$500 million commitment revolving credit facility (RCF) arranged by DBS Bank, HSBC and Standard Chartered Bank.

“As part of the Group’s proactive capital management, the S$500 million commitment revolver will support our operational operations and other strategic business needs,” said Paul Tan, acting finance director of Cetrium Group. says Lars Christian Svendsen.

“With the success of this latest refinancing round, we have secured over S$2 billion in sustainable and green financing this year alone.

“We are encouraged by the Bank’s strong support for our continued efforts to pursue operational sustainability to create long-term stakeholder value and drive the industry’s energy transition.”

Mr Lim Wee Seng, Group Head of Energy, Renewables and Infrastructure, Institutional Banking Group, DBS Bank, said: for business.

“While the maritime industry is vital to the real economy, it is also one of the most difficult sectors to decline. Seatrium is a pioneer in addressing sustainability and meeting the challenges of the energy transition.

“As a purpose-driven bank, DBS is proud to provide the Group’s first sustainability-linked loan in 2021 and to be a long-standing partner in Seatrium’s sustainability efforts. We will continue to work with this sector to build a society that is safe for the future. “

Lim Jit Min, Managing Director and Head of Homegrown Corporate Global Banking at HSBC Singapore, said: “This new facility will enable Cetrium to further expand its business, especially as opportunities in the energy transition sector gain momentum. “We will be able to expand this,” he said.

Under its Sustainability Vision 2030, Seatrium is committed to achieving 40% of its net orders from renewable energy and cleaner/greener solutions and reducing greenhouse gas emissions by 40% by 2030. He said he was.