Mitsui OSK Lines (MOL) and NYK Line have received about JPY126.7billion (USD1 billion) to finance four Moss-type LNG carriers currently being built by MI LNG and Kawasaki Heavy Industries (KHI).
The Japan Bank of International Cooperation (JBIC), the country’s export credit agency, will provide about JPY52 billion of the loans while Sumitomo Mitsui Banking Corporation and Bank of Tokyo-Mitsubishi UFJ will provide the remainder.
MOL and NYK ordered the ships on 9 September to ship cargoes from the Freeport LNG project in the United States.
MI LNG, a joint venture between Mitsubishi Heavy Industries and Imabari Shipbuilding, will build two 180,000³ m ships, and KHI will build two 177,000 m³ vessels. All will service long-term shipping contracts with Chubu Electric Power.
JBIC said that through such project financing arrangements, it will support the procurement of energy resources by Japanese companies.