Asia/Pacific News
IINO Lines Secures Mizuho Financing for Methanol-Fuelled VLCC
Japan’s IINO Kaiun Kaisha (IINO Lines) has signed a loan agreement with Mizuho Bank under its Sustainable Shipping Impact Finance framework to finance a methanol-dual-fuel very large crude carrier (VLCC).
The financing uses an evaluation method developed with Nippon Kaiji Kyokai to assess vessels based on CO2 reduction performance, IINO Lines said in a statement on its website on Tuesday.
Only ships meeting set thresholds qualify.
KPIs linked to emissions reductions will apply to both the vessel and IINO’s wider fleet, alongside ongoing dialogue with the lender to support decarbonisation efforts.
Japan Credit Rating Agency has validated the framework.
The VLCC has already met the required criteria.
It will feature a dual-fuel engine capable of running on methanol and conventional marine fuel, with delivery scheduled from 2027.
The deal supports IINO’s target to cut emissions intensity by 20% by 2030 and reach carbon neutrality by 2050.
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| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 867.50 | 10.00 | 1869.50 | 48.00 |
| Rotterdam | 749.00 | 11.00 | 1366.50 | 22.00 |
| Houston | 895.00 | 12.50 | 1267.00 | 75.50 |
| Fujairah | 869.00 | 21.50 | 1730.00 | 27.00 |
| APAC Average | 1036.50 | 2.00 | 1882.50 | 12.50 |
| Global 20 Ports Average | 965.00 | 6.50 | 1694.00 | 3.00 |
| Global 4 Ports Average | 845.00 | 7.50 | 1558.50 | 19.00 |
| Global Average Bunker Price | 1007.50 | 0.50 | 1649.00 | 50.00 |
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