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By: Patricia Büeler
Eco-friendly shipping fund launches
Photo: LEMSCO
HFW, a global sector-focused law firm, has facilitated the launch of the shipping industry's first sustainable fund named Low Emission Methanol Shipping Company (Lemsco).
The fund, created by maritime investment advisor Promarine, is starting with an initial portfolio of four methanol-fuelled MR tankers, acquired from Proman and Stena Bulk. It is financially supported by equity investors and a green loan from ABN Amro.
Lemsco will have a steady methanol supply from Proman, enabling lower-emission operations. HFW supported all parties involved, led by Gudmund Bernitz and Katherine Noble. This fund represents a significant step towards the decarbonisation of the shipping industry. (pb)