Ship classification society Nippon Kaiji Kyokai (ClassNK) and the Development Bank of Japan (DBJ) have launched a Zero-Emission Accelerating Ship Finance Programme for the maritime industry.

The main aim of the programme is to help the maritime industry achieve its decarbonisation targets, as stringent environmental regulations and carbon pricing are expected to be launched in the industry.

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As part of the programme, ClassNK will assess ships based on a comprehensive scoring model that has been jointly developed with DBJ on the basis of ‘decarbonisation, environmentally friendly performance and innovativeness’.

DBJ will provide investment and financing for the ships that are in line with the guidelines.

The first ship assessed by ClassNK under the programme is owned by Kumiai Navigation and named Crystal Oasis.

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DBJ granted a loan to Kumiai to finance the acquisition of the liquefied petroleum gas (LPG) dual-fuelled large LPG carrier.

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Based in Singapore, Kumiai is a Japanese shipowner that is focusing on LPG dual-fuelled LPG carriers to support its decarbonisation efforts.

The factors considered in the assessment of the ship include that the dual-fuel main engine using LPG achieves a major reduction in sulfur oxide (SOx) and carbon dioxide (CO₂) in the exhaust gas, as well as that the vessel complies with Energy Efficiency Design Index (EEDI) Phase 3 requirements.

Furthermore, that the deployment of an exhaust gas recirculation (EGR) system and selective catalytic reduction (SCR) system allows the vessel to adhere to nitrogen oxide (NOx) Tier III regulations.

The ship is also equipped with various environmental technologies to prevent air and marine pollution that are not yet required by international conventions. It is also assigned ClassNK’s Environmental Awareness (EA) and Advanced Environmental Awareness (a-EA) notation.