Wan Hai Inks $95 Million Shipping Sustainability Deal

Taiwanese liner Wan Hai has announced the completion of a 10-year US$95 million sustainability-linked shipping financing agreement with Standard Chartered Bank in a bid to lower its emissions.

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

Wan Hai said in a statement that it: "...recognizes 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 the base year (2008)."

Additionally, Wan Hai has also 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.

What Wan Hai terms as 'Sustainalytics' have been engaged to achieve the decarbonization goals required by IMO.

The Wan Hai statement continued: "As a responsible shipping company, Wan Hai believes that taking proactive action is necessary.

"To this end, [we] continue to implement fleet renewal programs and invest in energy-efficient engines and various energy-saving equipment.... [and] closely monitor and analyze data to improve fuel efficiency and reduce CO2 emissions."

Wan Hai also announced that all its vessels obtain "Smart Ship Certification," which enhances ship safety and data management, contributing to energy-saving and carbon reduction environmental goals.

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