Containerships receives funding for LNG project

The Finnish logistics company said it has four LNG-fueled ships under construction, and is planning on expanding its fleet of LNG-fueled trucks from 40 to between 150-200.    Finnish logistics company Containerships plc. has received funding to build four ships that will use liquefied natural gas (LNG) as fuel, and will expand its fleet of LNG-powered trucks, the company said.
   The European Union will provide Containerships with 16.9 million euros (U.S. $11.4 million) – 10.7 million euros for ship investments, and 6.2 million euros for the development of a European LNG terminal network with other partners involved in the project.
   In addition, the Nordic Environment Finance Corporation will invest 5 million euros “in supporting the company’s environmental strategy in the Baltic Sea region,” Containerships said.
   China’s Guangzhou Wenchong Shipbuilding Corp. is building the four LNG cargo ships for the company in China, scheduled for delivery by the end of 2018.
   Containerships’ new short-sea vessels will be able to hold 1,400 TEUs, and accommodate up to 639 units of 45-foot containers.
   In addition to new ships, the company is increasing the number of LNG-fueled trucks from 40 to between 150 and 200.
   Containerships provides warehousing; door-to-door services that include sea transportation on container vessels; and land transportation by truck, train or ferry to or from port.
   The company operates in the Baltic Sea, North Sea and the Mediterranean, providing both standard and customized containers, and variable logistics solutions.
   In 2016, the group’s revenue totaled 197.9 million euros.
   The group’s two business segments include:
     • CSL Baltics, a short-sea door-to-door operator with eight vessels linking ports in Northwest Europe and the United Kingdom with ports in Finland, Scandinavia, the Baltic States and Russia, with the bulk of its activity centered on the hub ports of Helsinki, Rotterdam, St. Petersburg and Teesport;
     • And CSL MED, which was established in 2009 through the acquisition of the Turkish operator Contaz Lines and operates container services between Turkish ports and North African countries, with three vessels offering up to two direct weekly sailings.