DBS extends $47.7m sustainability-linked loan to PSA Marine

The loan was the first to be granted to the country's maritime industry.

DBS has granted marine services firm PSA Marine with a three-year $47.7m (EUR30m) equivalent sustainability-linked loan, the first to be granted to the country’s maritime industry.

The loan features an interest rate adjustment linked to an ESG target, which requires a fleet of PSA Marine’s crew transfer vessels to be substantially deployed to support offshore wind energy-related activities.

PSA Marine’s subsidiary, Ventus Marine Limited, currently owns and operates a fleet of 10 modern CTVs to service the renewable offshore wind market in Europe.

The firm’s other business offerings which help facilitate a transition to a low carbon economy include the provision of CTVs and service accommodation transfer vessel services to the offshore wind market in Taiwan, support vessel services to the liquified natural gas market in Bangladesh and harbour towage services with two dual fuel LNG harbour tugs in Singapore.