Yohei Sasakawa may not be a familiar name in shipping, but he has been a key figure in providing financial aid to the industry.

The 76-year-old chairman of Japan’s not-for-profit Nippon Foundation was awarded the International Maritime Prize by the International Maritime Organization (IMO) for his contribution to maritime industries last year.

The award was made not long after he promised to set up a $100m endowment fund for the IMO’s World Maritime University.