KfW IPEX-Bank finances measures for decarbonizing the maritime industry
KfW IPEX-Bank is providing the container shipping company X-Press Feeders with a revolving sustainability-linked credit facility totaling USD 80 million. The Singapore-based company plans to use the financing for decarbonization, to support its fleet renewal, efficiency improvements, and other initiatives as part of its decarbonization pathway.
The financing supports X-Press Feeders’ goal of achieving climate neutrality by 2050. The company has already invested in efficient ships and sustainable fuels; the latest transaction is part of a broader sustainability plan.
“We are delighted to once again support our valued customer X-Press Feeders with our financing in its decarbonization efforts,” says Aida Welker, member of the Management Board of KfW IPEX-Bank. “We expect that German and European suppliers in particular will benefit from the retrofitting projects, with their innovative products playing a key role.”
Founded in 1972, X-Press Feeders has since grown into the world’s largest independent container feeder shipping company. It offers regional feeder services in Europe and the Mediterranean, Asia, the Middle East, Africa, the Caribbean, and Latin America. The renewal and modernization of its container ships are among the company’s priorities and serve its goal of further reducing emissions.
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