Japanese shipowner Mitsui OSK Lines (MOL) is targeting ship acquisitions in the LNG and offshore sectors with a huge new loan of JPY 100bn ($990m).

It said the hybrid facility follows on from structural reforms carried out in its bulker and containership divisions in the downturn.

The loan matures in 2076, but some or all of the principal amount can be repaid before the maturity date, starting five years from now, with the agreement of banks which it did not name.

The