X-Press Feeders is proceeding with a fleet renewal programme by purchasing three 7,000 TEU newly built container ships, replacing older, less-efficient vessels with new, more fuel-efficient ones.
“Sustainability-linked finance incentivises the achievement of environmental, social or governance targets through pricing incentives,” said the company.
“We have a commitment to reduce the annual efficiency ratio of our fleet by 40% between 2019 and 2027. This financing is our first sustainability-linked loan, and pricing incentives are tied to our performance,” added X-Press Feeders. “The target, which will be reviewed in 2027, ties with XPF’s global emission reduction target of halving our absolute emissions by 2040 and achieving net-zero emissions by 2050, supporting the broader shipping industry’s efforts to align itself with the Paris Agreement,” it noted.
