Vigeo Eiris was commissioned to provide a second-party opinion on the sustainability credentials and management of Precious Shipping Public Company Limited (PSL)’s Green Loan Tranche
As one of the two tranches of an Upsize Loan of up to USD 10.6 million made available on April 15th 2020, the Green Loan Tranche will exclusively finance and/or refinance part of the aggregate cost related to Ballast Water Treatment Systems
We assigned a Second Party Opinion (SPO) on the sustainability credentials and management of the Green Loan Tranche offered to PSL (as the Joint Borrower). Vigeo Eiris is of the opinion that the Green Loan Framework of PSL is aligned with the four core components of the Green Loan Principles 2018 and expressed a moderate assurance (our medium level of assurance) on the contribution of the Green Loan Tranche to sustainability.
PSL is a ship owner providing regional marine shipping services. The Company operates in the tramp freight market sector where its vessels are employed on a time charter as well as voyage charter basis. PSL has a network of shipping agents worldwide.