Singapore’s Seatrium — the former Sembcorp Marine — has secured a green trade finance facility from compatriot bank OCBC worth an estimated €720m ($808m).

The sizable trade facility is claimed to be one of the largest syndicated financing solutions for the maritime industry, issued by a sole bank.

“This trade financing solution will support Seatrium’s offshore renewable projects and decarbonisation efforts, bolstering the group’s implementation of green measures and investments in sustainable and environmental-friendly technology and practices within its operations,” the shipyard group said.