BW Epic Kosan has secured its first sustainability-linked loan to refinance 19 vessels for up to $140m alongside an acquisition line of $20m to finance potential growth opportunities.

The loan includes a sustainability-linked margin adjustment with two key performance indicators (KPIs), the Oslo-listed company said in a statement.

One KPI is linked to reducing fleet emissions and the second is to increase the number of female seafarers in the company’s employment.