Piraeus Bank Finances Pioneering Wind-Powered Tanker

Piraeus Bank has financed the world's first LR2 type tanker utilizing wind energy, contributing to sustainable shipping.

British shipping company Union Maritime Ltd. has taken delivery of the newly built “Brands Hatch”, the first Aframax LR2 tanker to utilize wind energy to reduce fuel consumption and carbon emissions.

The “Brands Hatch” was launched on June 11 in Shanghai. The ship is equipped with three 37.5-meter-high WindWings®, manufactured by BAR Technologies.

The use of wind energy is expected to reduce fuel consumption by 1,200 tons per year, reducing CO2 emissions by 3,800 tons per year.

With a portfolio of $5 billion, Piraeus Bank supports the transition to sustainable shipping.