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  • 2019 December 24 11:02

    MOL finances world's largest LNG bunkering vessel for Total with green loan

    Mitsui O.S.K. Lines, Ltd. has signed its first green loan, the proceeds of which will be used to partially finance the construction of the world's largest LNG bunkering vessel, which will be owned and operated by MOL, the company said in its release. The loan is provided by BNP Paribas ("BNPP") and the Export-Import Bank of China ("CEXIM"), with both banks acting as Mandated Lead Arrangers and BNPP acting as Sole Green Structuring Advisor. MOL obtained a second party opinion in respect of the loan from a third-party institute.

    Green Loans are used to raise funds for businesses aimed at protecting and improving the environment. In the management plan "Rolling Plan 2019" MOL's goals include "developing environment and emission-free businesses into core businesses" which continues from "Rolling Plan 2018" In addition, the "MOL Group Environmental Vision 2030", established in April 2017, clarifies the group's vision on addressing environmental issues.

    CEXIM advocates the idea of green credit and green finance, and endeavours to place greater emphasis on supporting green vessels that are compliant with the trend of sustainability and environmental protection. It is CEXIM's aspiration to improve the ecological environment by lending support to green transportation.

    The MOL Group also views responses to stricter environmental regulations and activities to reduce its environmental impact as opportunities to create new businesses, diversify its business portfolio and address new challenges in technical innovation. To foster a deeper understanding of the MOL Group's proactive initiatives on the environment among a wide range of stakeholders, 'MOL Blue Ocean Bonds' was issued in August 2018 and 'MOL Blue Ocean Sustainability Bonds' was issued in July 2019. In addition to issuing these green bonds, MOL's first green loan agreement has been executed between MOL, BNPP and CEXIM.




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2021 December 1

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2021 November 30

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