Finnish Containerships Aims to Establish Extensive LNG Logistics Chain

Containerships intends to be the first company in Europe to establish a logistics chain based entirely on LNG. At the moment, the Chinese Wenchong Shipyard is building four LNG cargo ships for the Company in China, scheduled for delivery by the end of 2018. The Keel Laying Ceremony of the first LNG vessel, and the Steel Cutting Ceremony of the second LNG vessel were recently held in Guangzhou.

The implementation of the company strategy is supported by substantial project funding of more than $17 million granted by the European Union. About $11 million of the funding will be allocated for ship investments, and the remaining funds for the development of a European LNG terminal network with other partners involved in the project.

The Nordic Environment Finance Corporation (NEFCO) has decided to invest more than $5 million in supporting the Company’s environmental strategy in the Baltic Sea region.

“The participation of the European Union and NEFCO in the project gives us considerable support for building the first eco-friendly supply chain in Europe,” said CEO of Containerships Kari-Pekka Laaksonen.

In addition to new ships, the Company will also invest in LNG trucks. Containerships is already operating more than 40 LNG-powered trucks. The plan is to increase the number to 150 to 200. Furthermore, the Company has invested in an LNG refueling station located in the UK.

The combined value of the investments made by the Finnish family-owned company Containerships amounts to approximately $150 to $200 million, including acquisitions for both maritime and road traffic.