Stena scores $180 million loan for E-Flexer ferries

Swedish-based international shipping company Stena has signed a $180 million loan agreement with KfW-Bank to finance two new E-Flexer RoPax ferries. 

The dup forms part of a series of nine new vessels ordered by Stena from China Merchants Jinling Shipyard (Weihai).

The shipyard has already delivered three ships in the E-Flexer class. The two new ships will be operated by Stena Line after their planned delivery in 2022 and can be deployed on a wide range of routes across Europe.

Stena said that the new design features two propulsion engines instead of four, thus reducing fuel consumption by 25% and CO2 emissions accordingly. As explained, at speeds of less than 18 knots, the ships can be run on a single propulsion engine.

The ferries are 238 metres long and have a capacity of around 1,200 people (passengers and crew), 3,600 lane metres plus 200 cars on special car decks.

The ships will feature an option of converting to methanol or LNG propulsion as well as a possibility to convert to electric hybrid.

Furthermore, the E-Flexer RoPax ferries are equipped with a special hull that reduces water resistance, which is finished with organic, copper-free paint aimed at cutting biofouling.

“We are very pleased to support our long-standing and valued business partner Stena in purchasing the next generation of RoPax ferries,” said Andreas Ufer, the member of the Management Board responsible at KfW IPEX-Bank.

“For us, this is another step on the path to environmentally friendly and sustainable passenger and freight transport by sea.”

The Chinese export credit agency Sinosure covers the loan. A significant proportion of the ferries’ equipment comes from suppliers in Germany and Europe.