Brussels - In our Shortsea15 conference in Copenhagen Matthieu Bertrand, Financial Officer of CEF (Connecting Europe Facility), presented the new TEN-T financing scheme, Jarek Kotowski presented financing of TEN-T MoS projects and François Gaudet, European Investment Bank, presented the products of the bank.
EU offers grants, financial instruments and loans for shortsea investments. The grants for shortsea shipping is available through Motorways of the Seas (MoS) in call at the end of 2015. This is for projects involving a port in the Core Network of EU. The financial instruments can be used for investements in ports including infrastructure for clean fuels, such as LNG and shore power. Tools are being developed to finance in particular greening of fleets through alternative propulsion systems. A new European Fund is established for Strategic Investments. This is set up within European Investment Bank. An investment advisory hub and projects portal is set up to guide project promoters.Motorways of the Seas
CEF MoS can fund fairway infrastructure, port terminal infrastructure, access to ports and ICT. Upgrades on vessels are limited to the additional efforts for environmental purposes or ancillary superstructure. Ships must remain in EU for 5 years after end of project. Pilot projects for testing or deploying new technological solutions in operational conditions or market uptake of such solutions can also get funding. For more information go to INEA web site.
Shipping Financing Tool (SFT)
The main objective of SFT by European Investment Bank (EIB) is to design a sustainable financing structure that provides a solution for investments in vessels that allows operators to adapt to the current EU regulatory framework on emissions and that could be replicated/used to finance compliance with future regulations on ballast water across the European Union. SFT address the main challenge for shortsea shipping that appears to be linked to the perceived risks associated with the sector. A first loss guarantee will be provided by the EIB using EU funds to cover (within an agreed limit) losses of commercial lenders on loans included in the portfolio. SFT is still being developed and pilot projects will be initiated within short time.
Presentation by Matthieu Bertrand on Financing Short Sea Shipping with EU innovative instruments: