A liquidity gap for smaller shipowners to finance the transition to zero-carbon fuels is growing while tried-and-tested alternative technologies remain unavailable, bankers have warned.
Paul Taylor, managing director and global head of shipping and offshore for bank Societe Generale, said the banks’ initiative alongside regulation will lead to behavioural change.
“It will channel liquidity and capital to those shipowners who have high standards of maritime stewardship and want to align with industry goals,” said Taylor, who is a leading light in the development of the Poseidon Principles for green shipping lending.
