The EBRD is considering financing, on a post-delivery basis, part of the acquisition costs of two Supramax vessels and a Handysize ECO type and shallow draft vessel, as part of the Client’s fleet renewal efforts.
The Project will promote new standards of corporate behaviour and business practices and will assist the Client in developing and implementing a GHG accounting and reporting system, a programme to improve energy performance; and developing and adopting corporate public information policy and procedures.
ER Denizcilik, a Turkish private shipping company, and the shipping arm of the ER Group of companies, active in ship owning, ship operations and ship management.
A senior loan of up to US$ 39.25 million.
US$ 78.50 million.
The proposed project has been categorised B. The acquisition of three dry bulk carrier newbuildings is associated with environmental and social impacts that can be readily identified and mitigated. The due diligence also covered ER Denizcilik's operations, policies, procedures and management systems for compliance with regulatory requirements, EU environmental standards and international (including IMO, MARPOL and SOLAS) standards of maritime safety and environment protection. Moreover, charter arrangements were reviewed in terms of environmental, social, and health and safety provisions.
The investigations showed that ER Denizcilik meets internationally acceptable environmental, health and safety (EHS) standards and its operations are overall in compliance with regulatory requirements, EU environmental standards and international (including IMO, MARPOL and SOLAS) standards of maritime safety and environment protection. Its EHS management system is certified under the International Safety Management (ISM) Code. The existing vessels of ER Denizcilik are fully class compliant. There is no major deficiency noted in the class report. The average number of crew on board is more than required per vessel safe manning certificate. ER Denizcilik engages supervisors during the building of their vessels, including supervision of EHS practices at the shipyard.
An Environmental and Social Action Plan (ESAP) has been developed to further improve the environmental and social performance of the Company in line with international best practice and to ensure it carries out the Project in compliance with the EBRD PRs. The ESAP commits the Company amongst others to: attaining ISO 14001 and OHSAS 18001 accreditation; maintaining compliance of all fleet with international maritime safety and environmental standards (including IMO MARPOL and SOLAS); development of a vessel recycling procedure taking into consideration international regulations; obtaining “green passports” for new vessels; implementing a GHG accounting and reporting system and implementing a programme to improve energy performance; development of an HR policy; and developing and adopting corporate public information policy and procedures.
The Company will provide the Bank with annual reports on its environmental and social performance, including updates on the implementation of the ESAP. The Bank will commission a completion audit and will also conduct monitoring visits on a risk driven basis, as required.
ER GROUP OF COMPANIES
Barbaros Mahallesi Halk Caddesi No:35
Atasehir / Istanbul 34746
Telephone : + 90 216 472 98 00
Fax : + 90 216 472 98 29
For business opportunities or procurement, contact the client company.
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Public Information Policy (PIP)
The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP