Wan Hai signs US$95 million financing deal with Standard Chartered

Wan Hai signs US95 million financing deal with Standard Chartered.png

Wan Hai Lines Ltd. announced the completion of a 10-year NT$3 billion (around US$95 million) sustainability-linked shipping financing agreement with Standard Chartered Bank.

This is the first sustainability-linked shipping finance done by the container shipping industry in Taiwan.

Wan Hai said it recognises the impact of the shipping industry on the global environment and has set clear carbon reduction targets, committing to a 50% reduction in carbon intensity of its fleet by 2030 compared to 2008 levels.

The Taiwanese ocean carrier obtained dual certifications in greenhouse gas inventory ISO 14064-1:2018 and GHG Protocol since 2022, with a 5.2% reduction in fleet CO2 emissions intensity compared to the previous year, representing a decrease of approximately 34% 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 decarbonization beyond that required by IMO.

To further accelerate carbon reduction, in 2022, Wan Hai established a project research team, classification societies, and academic institutions to conduct preliminary feasibility studies on low-carbon/zero-carbon fuels.

The company 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.

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