Itochu targets low-carbon assets with Purus Marine investment

Japanese trading house Itochu Corp has invested in UK-based Purus Marine, an expanding shipowning company focused on low-carbon shipping investments.

Established in 2020, the Julian Proctor-led outfit has already acquired a fleet of more than 60 vessels in the ammonia and LNG sectors, battery hybrid offshore wind vessels as well as carbon capture and scrubber-fitted containerships and electric ferries.

Itochu has been heavily involved in the development of the Japanese ammonia supply chain, including ammonia-powered deepsea ships. 

The size of the investment, which will see the two companies jointly develop and own low-carbon assets that contribute to decarbonation in the Japanese market, has not been disclosed. Both companies have been approached for comment.