Euronav has added another sustainability-linked loan as the green portion of its finance book reached 31.5%.
The New York and Brussels-listed tanker giant announced it has signed a deal for an €80m ($95m) unsecured revolving credit facility with a range of commercial banks and "help" from Belgian state finance agency Gigarant.
The new loan was "significantly oversubscribed", Euronav said.
Interest pricing is linked to sustainability and emission reduction targets.
"The flexible financing allows the company to strengthen its financial buffers for daily cash management," it added.
Carbon cuts
The facility will have a duration of three years minimum, with two one-year extension options.
Euronav has pledged to bring its carbon emissions down each year, through compliance with the Poseidon Principles of green lending.
The banking syndicate comprises KBC, ABN Amro, Belfius, ING, Societe Generale, BNP Paribas and SEB.
"Sustainability is at the core of what we do at Euronav, with the financing of our operations being a critical part of this approach," said chief financial officer Lieve Logghe.
"Diversifying our funding sources whilst at the same time providing challenging and quantifiable targets for our sustainability progress are dual objectives for Euronav. This transaction with multiple banks achieves this strategic and operational objective."
The company's breakthrough green financing deal came last October, when it borrowed $713m from Nordea and other lenders.
The refinancing related to debt on nine VLCCs and three suezmaxes. Security included Belgian, Greek and French mortgages on the ships.
The facility also assisted in financing part of the acquisition costs of the four former Sinokor Merchant Marine VLCC resales it bought at Daewoo Shipbuilding & Marine Engineering, as well as providing general corporate and working capital.
