Construction of the tanker is part of NYK’s medium-term management plan, “Staying Ahead 2022 with Digitalization and Green.”
NYK said that in May it became the first company in the global shipping industry to issue labeled green bonds, which have been used to fund environmentally friendly LNG-fueled vessels and other projects. The 2 billion yen secured from Taiyo Life Insurance Co. will be used exclusively to build the new methanol-fueled chemical tanker.
NYK said the methanol-fueled main engine will reduce sulphur oxides by about 99 percent when compared with the use of heavy oil. The vessel’s entire SOx emissions, including the electrical generator, will fall by about 75 percent compared with using oils that comply with low-sulphur oil regulations, according to NYK.