Japan’s Anchor Ship Partners reveals huge LNG shipping fund

Japanese ship financing giant Anchor Ship Partners is to launch a huge fund aimed at building a fleet of LNG carriers for leasing to Japan’s three major shipping companies.

Nikkei was the first to report on the 600 billion Yen ($5.6 billion) fund on Friday, which was consequently confirmed by Anchor Ship Partners with a statement on its website.

Under the new fund, the Tokyo-based financing firm would buy LNG-powered liquefied natural gas carriers for leasing to NYK Line, Mitsui O.S.K. Lines and K Line, the report said.

By helping to bring more chilled fuel to already the world’s largest LNG importer Japan, Anchor Ship looks to encourage power plants and other facilities to switch from carbon-intensive alternatives like coal and petroleum, it said.

In addition, Anchor Ship will look into investing in hydrogen and ammonia as well.

Anchor Ship would operate the new fund in accordance with guidelines from the United Nations Environment Program.

Moreover, Anchor Ship aims to seek investments in the new fund from regional banks and other financial institutions.

Sumitomo Mitsui Trust Bank would review the fund periodically to see whether it is “having a positive environmental impact,” the report said.

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