In a landmark deal for the maritime sector, global shipping giant Evergreen Marine has successfully priced a three-year, US$300 million Senior Unsecured Green Bond. Crédit Agricole CIB served as the Lead Green Structuring Advisor, Joint Global Coordinator, and Joint Bookrunner for the offering, which marks several historic milestones for Asian sustainable finance.
The transaction is the first international green bond issued by a containership shipping company in Asia and the first-ever unrated US-dollar green bond to emerge from Taiwan. Notably, it is the first international green bond from the Asian shipping industry to reference the stringent EU Taxonomy “substantial contribution” criteria, establishing a new global benchmark for transparency in the sector.
The proceeds are earmarked for the acquisition of large methanol dual-fuel container vessels. These ships are designed to significantly lower carbon emissions, allowing Evergreen Marine to navigate tightening environmental regulations and increasing customer demand for sustainable logistics.
“This transaction marks a highly successful maiden voyage through uncharted waters,” said Tim Fang, Head of Debt Capital Markets for Greater China at Crédit Agricole CIB. “Despite being a debut issuer without a credit rating, Evergreen Marine’s sustainability strategy resonated with the global investor community, laying the foundation for this landmark transaction.”
The bond was met with high demand, achieving a 6.3x oversubscription. The investor base included high-quality global “real money” managers and dedicated ESG investors, reflecting strong market confidence in Evergreen’s transition strategy.
Founded in 1968, Evergreen Marine is currently the world’s seventh-largest shipping company. As of late 2025, it holds a 5.8% global market share and operates over 150 routes.
Carmen Tsang, Head of Sustainable Investment Banking for Greater China, added: “This high-quality transaction demonstrates that the shipping sector can deliver credible green finance and real impact on global decarbonisation. We look forward to the positive precedent it sets for the market.”
