Wan Hai Lines Ltd. has announced the completion of a 10-year NT$3 billion ($95 million) sustainability-linked shipping financing agreement with Standard Chartered Bank.
This marks the first sustainability-linked shipping finance done by the container shipping industry in Taiwan.
Wan Hai Lines recognises the impact of the shipping industry on the global environment and has set clear carbon reduction targets, committing to a 50 per cent reduction in carbon intensity of its fleet by 2030 compared to the base year (2008).
Additionally, Wan Hai Lines obtained dual certifications in greenhouse gas (GHG) inventory ISO 14064-1:2018 and GHG Protocol since 2022, with a 5.2 per cent reduction in fleet CO2 emissions intensity compared to the previous year, representing a decrease of approximately 34 per cent compared to 2008.
The sustainability-linked shipping financing agreement with Standard Chartered is designed to link Wan Hai’s fleet carbon indicators.
Sustainalytics has been engaged as the Secord Party Opinion provider with the assessment result of “Very Strong” for KPI and “Ambitious” for SPT, in recognition of Wan Hai’s strong commitments to decarbonisation beyond that required by the International Maritime Organisation (IMO).
Moreover, all new Wan Hai vessels obtain “Smart Ship Certification,” which reportedly enhances ship safety and data management, contributing to energy-saving and carbon reduction environmental goals.
To further accelerate carbon reduction, in 2022, Wan Hai Lines established a project research team and actively engaged in close communication with engine manufacturers, classification societies, and academic institutions to conduct preliminary feasibility studies on low-carbon/zero-carbon fuels.
READ: Wan Hai inaugurates new 3,000 TEU boxship
Wan Hai also participates in the Clean Cargo Working Group (CCWG), Getting to Zero Coalition, and Silk Alliance, strengthening the exchange of environmental knowledge, information, and technology with industry peers.
In May, Wan Hai Lines held a ship naming ceremony for its new eco-friendly WAN HAI 363 boxship.
Later that same week, Wan Hai Lines established a non-port office in India for the first time in view of the huge domestic demand in the nation’s inland with the aim of deepening the Indian market.
