Helsinki, Finland, 2014-05-07 16:30 CEST (GLOBE NEWSWIRE) -- Finnlines Plc Stock Exchange Release 7 May 2014 at 17:30
FINNLINES INVESTS IN ENVIRONMENTAL TECHNOLOGY
Finnlines Plc has today undersigned extensive contracts with two major suppliers for installation of exhaust gas scrubbers for the most of the Group’s ships.
The first installations will be completed by the end of 2014 and the rest in early 2015.
Being equipped with sulphur scrubbers, Finnlines ships will comply with the IMO and EU SOx emission regulations in a cost-efficient manner. The new stringent regulations will enter into force in the Sulphur Emission Control Areas on 1 January 2015. Scrubbers will reduce exhaust gas emissions, such as sulphur oxide emissions and particulates efficiently and also some nitrogen oxide emissions.
Finnlines has also signed a contract for reblading of propellers on the Star-class roro-passenger ships. Modification will be done during 2014. The investment will greatly reduce the required engine output, it will reduce fuel consumption and improve speed with the same machinery power.
These investments are part of the 2014 capex programme, which will amount to EUR 50 million.
Finnlines Plc
Tom Pippingsköld Tapani Voionmaa
CFO Group General Counsel
DISTRIBUTION
Nasdaq OMX Helsinki Ltd
Main media
About Finnlines
Finnlines is one of the largest North-European liner shipping companies, providing sea transport services mainly in the Baltic and the North Sea. Finnlines’ passenger-freight vessels offer services from Finland to Germany and Sweden, from Sweden via the Åland Islands to Finland and from Germany to Russia. The company has subsidiaries in Germany, Belgium, Great Britain, Sweden, Denmark and Poland which all are also sales offices. In addition to sea transportation, the Company provides port services in Helsinki and Turku.
www.finnlines.com