This article, published in Lloyd’s List in November 2015 by Nigel Lowry, discusses the forming of South European shipowners are forming bbehind Europa Venture, the SPV to be used for promoting EUROPA SHIP Plan, a massive shipbuilding project to renew the region’s ageing shortsea fleet.
Brussels and the European Investment Bank have accepted the need for new funding for the industry if it is to meet the cleaner fuel targets set by the European Union for 2020 without risking a collapse in the capability of the European shortsea and coastal fleets.
…While subsidies are off the agenda, it is understood the European Commission looks favourably on providing straight finance at relatively low interest rates to cover part of the cost of vessels built in Europe.
…The Europa Ship Plan, as it is alternatively called, would draw on the new European Fund for Strategic Investments, often referred to as the Juncker Plan after European Commission president Jean-Claude Juncker.
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