Investment of CA$ 50 million by EverWind Terminals Canada for three tugboats, contributing to the growth of their eco-friendly energy infrastructure.
EverWind Terminals Canada Invests in Modern, Low-Emission Tugboats for Canso Strait
EverWind Terminals Canada has made a significant investment in a fleet of modern, low-emission tugboats from Damen Shipyards Group. The new tugboats, designed to reduce greenhouse gas emissions, will facilitate the transport of renewable energy sources, specifically green hydrogen and ammonia, as part of EverWind's Point Tupper project [1][2].
The investment, estimated at CAD 50 million, is one of the largest private sector investments in the Canso Strait in the last fifty years. The new tugboats, powered by 5,800-horsepower diesel motors with highly maneuverable propellers capable of 360-degree rotation, will replace the existing fleet in the Strait, servicing about 140 ships annually, including those linked to fuel transshipment and other local industry activities [1].
Damen, a Dutch defense, shipbuilding, and engineering company, was involved in the purchase and financing of the tugboats. The company's expertise extends beyond shipbuilding to include financing, ensuring a comprehensive solution for EverWind Terminals Canada.
In addition, Atradius, a structured trade credit insurance provider and export credit agency based in the Netherlands, participated in the financing of the tugboats. This international collaboration underscores the growing importance of renewable energy projects and the global efforts to mitigate the environmental impact of maritime activities in the Canso Strait [1][2].
Our Vancouver and Amsterdam offices advised EverWind Terminals Canada on all aspects of the project, including supporting infrastructure, financing, and shipbuilding contracts. However, further details regarding the services or roles of these offices are not currently available.
The new tugboats aim to mitigate the environmental impact of maritime activities in the Canso Strait, contributing to EverWind's commitment to sustainable operations and the promotion of green fuels in Nova Scotia.
[1] Source: EverWind Terminals Canada Press Release, [Link to Press Release] [2] Source: Damen Shipyards Group Press Release, [Link to Press Release]
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