IINO Lines inks loan agreement with bank for financing of methanol dual-fuel VLCC
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by Admin
IINO Kaiun Kaisha (IINO Lines) on Tuesday (31 March) said it has signed a loan agreement with Mizuho Bank for the Sustainable Shipping Impact Finance of a methanol dual-fuel Very Large Crude Carrier (VLCC).
The financing uses a unique evaluation method developed in collaboration with classification society ClassNK to assess the environmental performance of vessels eligible for financing in terms of CO2 emission reduction. Mizuho Bank will provide loans for vessels that meet certain criteria.
In addition, KPIs will be set to promote CO2 emission reduction in the operation of loaned vessels and fleets owned and managed by borrowers. Regular discussions will be conducted to support the development of decarbonisation initiatives and the realisation of positive climate impact by individual shipping companies and shipowners.
“The vessel will be equipped with a dual-fuel main engine that can use methanol, which emits less CO2 than conventional fuel oil, as well as heavy fuel oil, and it is scheduled for delivery from 2027 onward,” the company said.
In the shipping business, IINO Lines has set targets to reduce greenhouse gas emissions per tonne-mile by 20% by 2030 compared with FY2020, aiming to achieve carbon neutrality across the company by 2050 while actively promoting investment in innovative technologies.
Photo credit: Scott Graham
Published: 1 April, 2026
