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    MOL Secures Green Loans for its LNG Bunker Vessel

Summary

Last year, Total signed a long-term charter contract with MOL for the bunkering vessel.

by: Shardul Sharma

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MOL Secures Green Loans for its LNG Bunker Vessel

Japanese shipping company Mitsui OSK Lines (MOL) has signed its first green loan to partially finance the construction of the world's largest LNG bunkering vessel, which will be owned and operated by the company, it said December 23.

The loan is provided by BNP Paribas and the Export-Import Bank of China, with both banks acting as mandated lead arrangers and BNP acting as sole green structuring advisor, MOL said. Green loans are used to raise funds for businesses aimed at protecting and improving the environment.

Last year, Total signed a long-term charter contract with MOL for the bunkering vessel. The 18,600 m³ vessel will operate in northern Europe and, according to Total, be the first ever capable of supplying large quantities of LNG in one single bunkering operation.

With this vessel, Total Marine Fuels Global Solutions intends to serve the emerging LNG-fuelled containership market, including the supply of bunker fuel for French shipowner CMA CGM’s newbuild LNG mega container ships, following a ten-year contract of 300,000 metric tons/yr LNG supply contract signed with Total in December 2017.