01JAN2019 - NEWS - Japan based NYK Line to receive loan from Taiyo Life Insurance Company for the construction of methanol fueled chemical tanker

Japan based NYK Line recently announced that it will receive 2 billion yen from Taiyo Life Insurance Company as a green loan to finance the construction of its first methanol-fueled chemical tanker at Hyundai Mipo Dockyard Co. Ltd. Methanol is a clean-burning fuel that produces less nitrogen oxides (NOx) and particulate matter (PM), enabling more environment-friendly operation by NYK. The ship's methanol-fueled main engine is expected to reduce sulphur oxides (SOx) by approximately 99% compared with the use of HFO. In fact, the vessel’s entire SOx emissions, including the electrical generator, will fall by about 75% compared with using oils that comply with low-sulphur oil regulations. Using methanol as a marine fuel also helps meet the IMO's 2020 sulphur cap. 

Published by Editor - www.Livebunkers.com at 01-Jan-2019 06:03:40 [UTC] , contact editor at editor@livebunkers.com