PSA Marine bags sustainability-linked loan from DBS

Singapore

HARBOUR and terminal towage operator PSA Marine has been granted a sustainability-linked loan from DBS, the first in Singapore's maritime industry.

The three-year, 30 million euro (S$47.8 million) equivalent loan features an interest rate adjustment linked to an ESG (environmental, social and governance) target. This requires a fleet of PSA Marine's crew transfer vessels (CTVs) to be substantially deployed to support offshore wind energy-related activities, such as the transportation and accommodation of personnel, cargoes and equipment for offshore wind farms, said DBS and PSA Marine in a joint statement on Wednesday.