Japanese trading company Mitsui & Co. has decided to invest in a maritime investment fund managed by Danish fund management company Navigare Capital Partners. The fund targets $650 million in capital, focusing on sustainable shipping, including green vessels and carriers.
Mitsui will invest through intermediate companies, alongside Mitsui & Co. Alternative Investments Limited, a subsidiary of Mitsui.
“This strategic move aligns with our commitment to meeting diverse international maritime needs while promoting stable and sustainable supply chains and reducing the carbon profile of the shipping industry,” Mitsui noted.
Navigare, established in 2017 by Robert Maersk Uggla, the Chairman of Danish shipping major A.P. Moller Maersk, has formed and operated two maritime investment funds since its inception. The accumulated operating assets have reached approximately $2 billion.
The third fund, MIF III, is expected to invest in maritime assets totaling about $1.5 billion (approximately ¥230 billion). With a focus on environmentally friendly vessels for stable and sustainable maritime transportation, the investment will cover offshore vessels, gas carriers, container vessels, car carriers, tankers, and bulk carriers.
In the international shipping industry, tighter environmental regulations and the increasing complexity of vessel types are expected to drive greater demand for diversified shipping asset management businesses.
By connecting its networks in the vessel/shipping industries with the domestic financial market, Mitsui aims to maximize the profits of MIF III and promote maritime asset management business together with Navigare.
The partners aim to meet diverse international maritime needs and contribute to building a foundation for securing stable and sustainable supply in society.
Mitsui has recently teamed up with Brazilian state-owned oil and gas company Petrobras to explore low-carbon business opportunities in Brazil. The firm also joined a project for the establishment of an ammonia supply chain based in the Tomakomai area of Hokkaido, Japan.
