Mitsui O.S.K. Lines, Ltd. (MOL) has inked a transition linked loan (TLL) agreement with Sumitomo Mitsui Trust Bank, Ltd., aiming to raise funds for the construction of a LNG dual fuel very large crude carrier (VLCC). This move marks the sixth financing initiative based on MOL’s Sustainable Finance Framework, aligning with its commitment to environmental sustainability outlined in the group management plan “BLUE ACTION 2035.
Sustainable Financing Deal
- MOL partners with Sumitomo Mitsui Trust Bank for TLL financing.
- TLL structure incorporates loan characteristics tied to GHG reduction targets.
- The framework promotes environmental responsibility and supports MOL’s net zero emissions goal by 2050.
Vessel Overview
- Details of the LNG dual fuel VLCC construction project.
- Specifications including length, breadth, and shipbuilder information.
- Construction aims to integrate environmental innovation and sustainability into maritime operations.
Commitment To Environmental Strategy
- MOL prioritizes ocean and global environmental conservation.
- Emphasis on collaborative efforts with stakeholders to address environmental challenges.
- Second-party opinion from DNV enhances transparency and investor appeal of MOL’s Sustainable Finance Framework.
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Source: MOL
