Wallenius Wilhelmsen’s strong 2022 pushed it past the emissions targets laid out in its sustainability-linked loans, making it all a bit more expensive.

The Oslo-listed shipowner said on Friday that the weighted average CO2 intensity for its fleet of car carriers came in at 5.89, short of the 5.71 figure that would have given them a five basis point break on its $800m-worth of sustainability-linked bank loans.