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Saturday, January 26, 2019 

Mediterranean Shipping Company (MSC) has secured US$439 million SINOSURE-backed financing for the procurement and installation of 86 exhaust gas cleaning systems.

According to law firm Watson Farley & Williams, acting as adviser to BNP Paribas and a syndicate of four other banks, the loan will be used to finance the manufacturing of scrubbers for installation onboard 86 containerships owned by the MSC group.

The decision to invest in marine exhaust gas cleaning systems is in order to meet the International Maritime Organisation’s low sulphur cap regulations in 2020, which enter into force in just under twelve months’ time.

Finance Partner Alexia Russell, a member of the WFW Paris team advising BNPP, commented: “We are very pleased to have advised BNPP and the other lenders on this milestone deal, which marks the first scrubber financing between the parties highlighting MSC’s environmental commitment and its firm support by the lenders in light of the new IMO-2020 sulphur cap.”

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