MOL Group signed a deal to raise funds through transition linked loan (TLL) financing with Sumitomo Mitsui Trust Bank. MOL has decided to apply the funds to finance the construction of an LNG dual fuel very large crude carrier (VLCC). This is the MOL Group's sixth financing package based on the Sustainable Finance Framework formulated in January of this year, according to the company's release.
TLL is a financing method that considers changes in loan characteristics (interest rates, etc.) based on the achievement of greenhouse gas (GHG) reduction targets that the MOL Group has set (or will set) in advance.
Outline of the vessel:
LOA/Breadth About 339.5 m/About 60 m
Deadweight tonnage About 309,000 tons
Shipbuilder/Shipyard Kawasaki Heavy Industries Ltd./Dalian COSCO KHI Ship Engineering Co., Ltd. (China)