UK tanker and bulker owner Union Maritime has sealed a $25m sustainability-linked loan to help its decarbonisation efforts.

The low-profile company has secured the financing with a leading financial services company, according to law firm Watson Farley & Williams (WFW).

WFW served as legal advisor to the bank involved in the deal with Union Maritime, which was founded in 2006 by Laurent Cadji.

The loan package is secured on three bulk carriers.