EFSShipping moves over 80% of the world’s commodities and exchanges approximately three to five billion tons of ballast water internationally each year. In February 2004, the IMO adopted the International Convention for the Control and management of Ships’ Ballast Water and Sediments (the Ballast Water Management or BWM Convention) to regulate discharges of ballast water and reduce the risk of introducing non-native and invasive species from ships’ ballast water. Although the convention has yet to come into force, it has been widely regarded and publicly expected that the BWM convention will be rectified in the soon future.
Once the BWM Convention has entered into force, all ships will be required to manage their ballast water on every voyage by either exchanging or treating it using an approved ballast water treatment system.
In order to accommodate the foreseeable financial pressure on the ship-owners, Shanghai Electric and Cyeco together offer the multi-billion EFS program. The EFS program allows the ship-owner to possess the BWMS without the pressure of immediate full payment, to improve capital efficiency and enhance the cash flow management for the ship-owners. The EFS comes with extremely attractive interest rates, and the terms are flexible and highly negotiable.