IINO Lines secures funding for methanol dual-fuel vessel

Japanese tanker firm IINO Kaiun Kaisha (IINO Lines) has secured financing from Mizuho Bank for a methanol dual-fuel very large crude carrier (VLCC).

IMAGE: IINO Lines’ methanol dual-fuel crude oil tanker concept. IINO Lines

The vessel will be designed to run on both methanol and conventional marine fuels and is slated for delivery in 2027.

The loan is structured under an environmental evaluation framework developed in collaboration with Nippon Kaiji Kyokai (ClassNK), which assesses a vessel’s CO2 reduction performance. Financing is extended only to ships that meet defined environmental criteria.

Further details, including the vessel’s name, shipyard and intended deployment, have not been disclosed.

By Tuhin Roy

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