The necessary transition to a sustainable economy requires shipowners to equip their vessels with new systems such as LNG installations and ballast water treatment systems.
However, because ships have such a long operational lifespan, it takes a long time before the fleet can be renewed. Retrofitting existing ships with green technologies is one solution, but poses the challenge that shipowners often cannot earn a return on their investment from short-term contracts with clients.
An example of alternative financing methods for green shipping are the agreements made by a number of banks, including ING and ABN AMRO, with the EIB.