Green Shipping: KfW IPEX-Bank evaluates energy efficiency of its merchant shipping portfolio

Frankfurt am Main (ots) -

- Energy efficiency is incorporated into financing decisions
- "Green" Ships not only ecologically but also economically
advantageous

KfW IPEX-Bank, one of the largest ship financing banks in the
world, has evaluated together with FutureShip, a subsidiary of
Germanischer Lloyd, the energy efficiency of its shipping portfolio
based on the Energy Efficiency Design Index (EEDI). The applied
valuation approach is based on the standards of the International
Maritime Organisation (special organisation of the United Nations)
and provides an indicator for the energy efficiency and CO2 emissions
of merchant vessels. From 2013 binding EEDI limits will be introduced
for newbuildings. However, the energy efficiency of existing vessels
also plays an increasingly important role during chartering
decisions.

Using the EEDI methodology, the energy efficiency of 88% of the
ships in the IPEX portfolio could be evaluated. "In this regard our
merchant shipping portfolio is on average slightly better than the
world fleet," explained Dr Carsten Wiebers, Global Head of Maritime
Industries at KfW IPEX-Bank. "The reduction of environmental impacts
from maritime shipping is a serious concern for us. The newly
developed valuation method gives us the opportunity to take into
acoount the vessel's energy efficiency during our financing decision
and to favour "green" ships over similar ships with poorer energy
efficiency. Furthermore, the evaluation verified that less energy
efficient ships are associated with a higher credit risk. The
compatibility of ecological and economical aspects for ship financing
has now been empirically supported through the joint project of KfW
IPEX-Bank and FutureShip."

About KfW IPEX-Bank GmbH

KfW IPEX-Bank is responsible for international project and export
finance within KfW Bankengruppe. Its function of providing financing
to support the German and European economy is derived from the legal
mandate of KfW Bankengruppe. Its prime focus is on medium- and
long-term lending to support the export economy and develop economic
and social infrastructure, and for environmental and climate
protection projects. It operates as a legally independent group
subsidiary and contributes significantly to the promotional mission
of KfW Bankengruppe. It has 531 employees (as of 31 December 2011)
and is represented in the key economic and financial centres around
the globe.

Contact:
KfW IPEX-Bank GmbH, Palmengartenstraße 5-9, 60325 Frankfurt
Pressestelle: E-Mail: dela.strumpf@kfw.de
Tel. 069 7431-2984, Fax: 069 7431-9409, E-Mail:
info@kfw-ipex-bank.de,
Internet: www.kfw-ipex-bank.de