PSA Marine has been granted a three-year EUR 30 million-equivalent sustainability-linked loan by Singapore’s largest bank DBS. This loan – which encourages sustainable activity and growth by linking interest rate adjustments to an Environmental, Social and Governance (ESG) target – is PSA Marine’s first sustainability-linked loan and the first of its kind granted to a company in Singapore’s maritime industry.

The loan features an interest rate adjustment linked to an ESG target, requiring PSA Marine’s Crew Transfer Vessels (CTVs) to be substantially deployed to support offshore wind energy-related activities, such as the transportation and accommodation of personnel, cargoes and equipment for offshore wind farms. PSA Marine’s subsidiary, Ventus Marine Limited, currently owns and operates a fleet of 10 modern CTVs to service the renewable offshore wind market in Europe.

Managing Director of PSA Marine Peter Chew said, “PSA Marine has grown our business in the renewable energy sector since 2015 as part of our commitment to move towards sustainable energy. We are proud to play a part in supporting the offshore wind industry and will continue to partner with financial institutions and other organisations to explore new opportunities in this space.”

For more information, please click HERE for the press release.