NYK is to use a ‘green loan’ to part fund the newbuilding costs of its first methanol-fueled chemical tanker, which is on order in South Korea.

The 49,000-dwt ship is under construction at Hyundai Mipo Dockyard Co (HMD) and is scheduled to be handed over during 2019.

NYK said it will receive a 10-year JPY 2bn yen ($18m) loan from Taiyo Life Insurance Company.