Japanese shipping company NYK on Wednesday (20 March) entered into a 9 billion yen (US $81 million) syndicated loan agreement in which the proceeds will be used solely for the purpose of funding scrubber installations.
This syndicated loan is the first “ESG (environmental, social, and governance) management support loan” for MUFG Bank and Mitsubishi UFJ Research and Consulting Co. Ltd.(MURC).
The remaining financial institutions involved in the loan included Aichi Prefectural Federation of Agricultural Cooperatives, Shinkin Central Bank, The Nishi-Nippon City Bank, Ltd., The Hiroshima Bank Ltd., The Musashino Bank Ltd., and The Yamaguchi Bank Ltd.
“This is Japan’s first syndicated loan to be certified by Japan Credit Rating Agency Ltd. (JCR) with its highest ranking of “Green 1,” thus demonstrating the loan to be aligned with the core components of the Green Loan Principles,” it says.
“NYK’s medium-term management plan includes the group’s intent to integrate ESG initiatives into management strategy by establishing new medium- to long-term environmental targets.
“To achieve these goals, NYK was the first company in the global shipping industry to issue labelled green bonds, and after that achievement in March 2018 the company received a green loan from Taiyo Life Insurance Company in December 2018.
“This new syndicated loan agreement is the third form of green financing for NYK for a total of over 20 billion yen.”
Photo credit: NYK
Published: 21 March, 2019
IBIA Asia, ABIS, sources from Singapore’s bunkering and surveying companies, and an industry veteran share with Manifold Times the issues expected from MPA’s latest Covid-19 measures.
The top three positive movers in the 2020 bunker supplier list are Hong Lam Fuels Pte Ltd (+13); Chevron Singapore Pte Ltd (+12); and SK Energy International (+8), according to MPA list.
‘We will operate in the Singapore bunkering market from the Tokyo, with support from local staff at Sumitomo Corporation Singapore,’ source tells Manifold Times.
Changes include abolishing advance declaration of bunkers as dangerous cargo, reducing pilotage fees on vessels receiving bunkers, and a ‘whitelist’ system for bunker tankers.
Claim relates to deliveries of MGO to the vessels Pacific Diligence, Pacific Valkyrie, Pacific Defiance, Crest Alpha 1, and Pacific Warlock between March 2020 to April 2020.
3,490 mt of LSFO from Itochu Enex was lifted at Universal Terminal; the same bunker stem was bought by Global Marine Logistics and delivered by bunker tanker Juma to receiving vessel Kirana Nawa.
15 Jan 2021