Japanese shipping firm NYK will publicly offer Green Bonds (Unsecured Corporate Bonds No.40) worth 10 billion yen ($93 million) within the Japanese domestic market in May, becoming the world’s first company to issue labelled Green Bonds in global shipping business sector.
A green bond is one in which the proceeds are used solely for the purpose of funding environment-friendly projects, summarises NYK.
Investments are aimed toward mainly new and existing (refinancing) projects indicated in NYK’s “Roadmap for Environmentally Friendly Vessel Technologies”.
Such projects include the development of liquefied natural gas (LNG) fuelled ships, LNG bunkering vessels, ballast water treatment equipment, and SOx (sulphur oxides) scrubber systems.
The bond will have a maturity of five years and be managed by Mitsubishi UFJ Morgan Stanley Securities and Nomura Securities; with the green bond structuring agent being the former.
Moving forward, NYK says it will participate in a shipping industry working group to be established by the Climate Bonds Initiative to formulate an evaluation criterion for Green Bonds issued by shipping companies.
The Climate Bonds Initiative is an international, investor-focused not-for-profit working group formed to mobilise bond markets for climate change solutions.
Photo credit: NYK
Published: 19 April, 2018
Firm hopes to leverage partnership in Greece as a springboard to expand into neighbouring and overseas markets including Europe and China, says Robin Van Elderen, Regional Head Bunkers, Europe, Sing Fuels.
Singapore can help less developed countries in SouthEast Asia through ‘piloting and scaling fuels and technology as well as a leading hub for green finance’, said DNV Group President and CEO Remi Eriksen.
Octamar™ Ultra HF, Octamar™ Complete, and Octamar™ F35C were found to have improved the fuel economy while reducing exhaust gas and other emissions of marine engines in a series of trials, states report.
Disposal of evidence has resulted in Singapore not being able to provide full details to the United Nationals Panel of Experts which sought information regarding the case, says Ministry of Foreign Affairs.
‘We are proud to be amongst the first to show the successful steps taken by Singapore’s bunkering ecosystem to remain forward thinking and relevant,’ Choong Sheen Mao, Director of EMF, tells Manifold Times.
‘With the launch of a common data infrastructure, Kenoil aims to continue achieving an end to end visibility and transparency on the bunker data supply chain,’ states Kenoil Managing Director.