China’s biggest ship lease finance company says it has an appetite to fund projects from shipowners for vessels driven by lower carbon emission fuels.

The chairman of Bank of Communications Financial Leasing said “green” lower emissions ships now comprise about 50% of its $18bn portfolio, and it has an appetite for more such newbuildings.

Xu Bin told the Marine Money Greek Ship Finance Forum in Athens that the institution was alert to the rapid shift towards the need for new ships to be fuelled by ammonia, methanol and electricity.