MOL inks transition loan pact to finance LNG bunkering vessel in France

Japanese shipping company Mitsui OSK Lines (MOL) has signed a transition loan to finance LNG bunkering vessel Gas Vitality, it said on November 1. The vessel, which is based in France, is owned by MOL's wholly-owned subsidiary Emerald Blue Maritime.

The loan is provided by Societe Generale and Sumitomo Mitsui Banking Corporation. It has been structured in line with a transition finance framework and a sustainability-linked instrument that has an acquired third-party certification by DNV Business Assurance Japan, MOL said.

The vessel Gas Vitality is the sister ship to the Gas Agility, which was delivered in April 2020. Gas Vitality was delivered at Hudong-Zhonghua Shipbuilding in China last month and chartered to TotalEnergies Marine Fuels.