The Piraeus is financing the world’s first LR2 tanker to harness wind energy, marking a new era of sustainable shipping.

The shipping company Union Maritime Ltd – reportedly , owned by the Palios family of shipowners, with the participation of billionaire Aristotle Mystakidis – recently took delivery of the newest ship “Brands Hatch“, which is the world’s first Aframax LR2 tanker to harness wind energy to reduce fuel and carbon emissions.

Piraeus has financed the acquisition of this vessel, participating in the new era of sustainable shipping that utilizes wind energy.

The launch of the “Brands Hatch”, named after the famous Kent car racing track, took place on Wednesday 11 June in Shanghai. The innovative tanker, with a capacity of 115,000 DWT, is equipped with three 37.5 meter high WindWings®, developed by UK-based BAR Technologies.

Wind propulsion is expected to reduce the ship’s fuel consumption by approximately 1,200 tonnes per year, which equates to a reduction of more than 3,800 tonnes of CO2 emissions per year.

With a portfolio of $5 billion, Piraeus finances all shipping sectors, supporting efforts for a green transition and entry into the new era of sustainable shipping.