Mitsui OSK Lines has unveiled an ambitious set of eco, safety and diversity targets as part of a financing deal.

Mizuho Bank will release up to $600m, depending on assessments of whether the giant Japanese shipowner is meeting its commitments under the “positive impact” loan.

The financing will last seven years, but some of the targets run beyond that time.

The idea is to “address sustainability issues by expanding the fundraising base”, MOL said, adding that the deal is the first of its type for the company.