EIB Invests in Low-Emissions Outboard Engines
The European Investment Bank (EIB) has signed a EUR 14 million venture loan agreement with Sweden’s Cimco Marine AB to co-finance its innovation and growth investments.As per the unsecured credit facility agreement, the EIB will finance up to 50 percent of Cimco’s development of a new family of diesel outboard engines, inter alia a 3 liter, 6- cylinder twin turbo BMW diesel engine with a number of power outputs between 200 hp and 300 hp."The total facility is split into three tranches of EUR 4 million (A)…
GE Powers Maersk’s Mega Ships
GE’s Marine Solutions recently delivered its power take off/power take in (PTO/PTI) solution along with its Power Management System digital software solution onboard four of the largest container vessels owned by Maersk Line—Madrid Maersk, Munich Maersk, Moscow Maersk and Milan Maersk. Madrid Maersk is the first container vessel delivered from Daewoo Shipbuilding & Marine Engineering (DSME)—back in April—and Munich Maersk and Moscow Maersk have both completed successful sea trials. Milan Maersk will soon be in service.