Mediterranean Shipping Company (MSC) has secured a US $439 million loan for scrubbers to meet the IMO’s 2020 0.5 per cent sulphur cap.
The scrubbers will be installed on 86 MSC containerships.
Law firm Watson Farley & Williams (WFW) is advising lending company BNP Paribas on the loan. There are four other banks also acting as lenders for the $439 million.
Alexia Russell, finance partner, Watson Farley & Williams, commented: “We are very pleased to have advised BNPP and the other lenders on this milestone deal, which marks the first scrubber financing between the parties highlighting MSC’s environmental commitment and its firm support by the lenders in light of the new IMO-2020 sulphur cap.”