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NYK gains funding to build its first methanol-powered chemical tanker

NYK has lined up a "green loan" of JPY2 billion (US$18.068 million) from Taiyo Life Insurance Company to finance the building of the Japanese shipping line's first methanol-powered chemical tanker.

The company said it will "continue to take steps for the development and use of technology linked to environmental performance by proactively promoting green finance."

It highlighted that in its medium-term management plan, "Staying Ahead 2022 with Digitalisation and Green" announced in March, its goal is to integrate environmental, social and governance (ESG) criteria into "management strategies to contribute to the sustainable development of society and enrichment of the company's corporate value.

"In May NYK became the first company in the global shipping industry to issue labelled green bonds and they have been using to fund environment-friendly liquefied natural gas (LNG) fueled vessels and other NYK projects.

"To support investment in environmental technology more from a finance viewpoint, NYK decided to enter into this green loan agreement with Taiyo Life Insurance Company," it said.

Source: Schednet

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