New sources of funding may emerge for marine energy saving technologies. File Image / Pixabay
Energy-saving technology for ships such as Flettner rotors is likely to be viewed favorably by banks due to the possibility of removing it from a ship and selling it to another party, according to the firm. lawyers Watson Farley and Williams.
While lenders are unlikely to be willing to put in place subordinated mortgages to finance the installation of this equipment, other financing is likely to be available, Watson Farley & Williams said in an article posted on its website the last week.
The company compared the difficulty of removing a scrubber from a ship to the relative ease of doing so with Energy Saving Technology (EST).
“The degree to which such equipment is integrated into the structure of the vessel will vary, unlike scrubbers, which are fully integrated and for practical purposes extremely difficult to remove, so the ability of a scrubber supplier to retain title and while he could then repossess and resell his goods economically or without the risk of causing damage to the vessel, there is much doubt, “the company said in the mail.
“The likely second-hand value of TSE and its lower disposal cost compare favorably to scrubbers which have a second-hand value of slightly more than scrap metal from which the disproportionate costs of their disposal must be deducted, but this will vary depending on the nature of the technology involved.