Singapore-based Quantum Pacific Shipping has secured a loan to finance the purchase and installation of exhaust gas cleaning systems on its vessels.
According to data provided by law firm Watson Farley & Williams Singapore, BNP Paribas and the shipping firm reached an agreement on a loan of up to USD 40 million.
The scrubbers would be installed on the fleet of vessels owned by Quantum Pacific Shipping and managed by Eastern Pacific Shipping.
The green loan facility was made available after a rigorous assessment of EPS’ and QPS’ environmental and social responsibility policies and practices by second-party opinion company, Vigeo Eiris.
“As a bank that connects corporates with sustainable finance, BNP Paribas is pleased to provide this green loan to Quantum Pacific Shipping – the first green loan issued to a shipping company in Asia Pacific,” Joris Dierckx, Head for Southeast Asia and CEO, Singapore at BNP Paribas, said.