Asia/Pacific News
IINO Lines Secures Transition Loan for LPG Dual-Fuel VLGC
Japan-based IINO Lines has secured a transition loan from Mizuho Bank to finance the acquisition of an LPG dual-fuel very large gas carrier (VLGC).
The loan will support the company’s investment in lower-carbon tonnage as part of its decarbonisation strategy, it said in a press release issued on Wednesday.
The vessel, Lumi Aurora, will be equipped with an LPG dual-fuel propulsion system and has one of the largest cargo tank capacities among VLGCs, helping reduce fuel consumption per tonne of cargo transported.
Using LPG as a marine fuel is also expected to reduce greenhouse gas emissions compared with conventional vessels powered solely by conventional marine fuels.
LPG remains a niche marine fuel, with its use largely concentrated in the gas carrier segment.
The global LPG-fuelled fleet is currently made up of 183 ships, with 165 more expected to join the fleet by 2030, according to classification society DNV data.
IINO Lines has set a target of achieving net-zero GHG emissions by 2050 under its FY2026-2030 medium-term management plan.
The company said it will continue investing in low-carbon dual-fuel vessels as part of its decarbonisation strategy.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
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| Rotterdam | 700.00 | 19.00 | 1408.50 | 8.50 |
| Houston | 739.00 | 13.50 | 1384.00 | 19.50 |
| Fujairah | 960.00 | 15.50 | 1694.00 | 18.50 |
| APAC Average | 975.00 | 3.00 | 1497.50 | 5.50 |
| Global 20 Ports Average | 873.00 | 12.50 | 1541.00 | 19.00 |
| Global 4 Ports Average | 819.00 | 18.00 | 1452.50 | 23.00 |
| Global Average Bunker Price | 925.50 | 3.50 | 1603.50 | 7.00 |
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