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
EC package may prove ineffective, greatly impact European shipowners and undermine global efforts to meet required environmental objectives, it says.
Ernst & Young consider that there are no other outstanding matters, and recommend liquidation of OTPL after expiry of the JM Order on 31 July 2021, states update.
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.
ExxonMobil, Hoegh LNG, MAN Energy Solutions Singapore, Jurong Port, PSA Singapore and ITOCHU Group with their partners, are initial project partners.
Current emissions pose a significant economic risk: customers will find climate-friendly suppliers and the costs related to regulatory requirements will increase, it said.
Environmental disaster adverted as debunkering ops was completed on Shine Luck before incident.
Rotterdam’s intention to mandate the usage of MFMs goes down well with licensed bunker supplier VT Group; MFM providers supportive of move but stressed continuous monitoring is needed for optimum performance.
Cost of alternative bunker fuels, bunker operations and technology advancement are some considerations to be examined by the maritime industry, says Neo, director of SDE International Pte Ltd.
Kim Hyung Joon and Han Donghoon were planning to join the Singapore entities of Hartree Group - either Hartree Partners Singapore Pte Ltd or Hartree Marine Fuels - in October, discovered management.
‘When you think of Helmsman on the next occasion, think of us as lawyers with expertise in various fields. Come to us before a problem develops. It’s the process that matters,’ says Tang Chong Jun, Executive Director.
Bernard Chew was a former shareholder of MB Marine and was an authorised signatory of the company’s cheques at the material time, according to court documents obtained by Manifold Times.
Maersk, CMA CGM, BP and Stena Bulk give insights on availability of the three potential bunker fuel types, their plans, transition from fuel oil and LNG to alt fuels, how important sustainable marine fuels are to shipowners and more.
