NYK to jointly own LNG vessel with Kepco

Nippon Yusen KK

Japan’s Nippon Yusen Kaisha (NYK) has agreed to jointly own a LNG carrier with compatriot Kansai Electric Power Co Inc (Kepco) via a vessel owning firm shared by the two companies.

The vessel owning firm, LNG Sakura Shipping Corporation, will be 70% owned by Kepco and 30% by NYK.

The 177,000 cu m moss-type LNG carrier is being built at the Sakaide shipyard of Kawasaki Heavy Industries (KHI) and upon completion in late-2017 will be assigned to the Cove Point LNG project in the US to transport LNG for 20 years.

The new ship will be equipped with a dual-fuel diesel electric propulsion engine that reduces fuel consumption over that of a conventional steam turbine engine. “Moreover, the vessel suppresses the boil-off rate of the LNG in the cargo tank to 0.08% of tank volume per day, the world’s lowest level. These advanced technologies mitigate environmental burdens and improve operational efficiency for LNG transportation,” NYK stated.

Copyright Ships & Ports Ltd. Permission to use quotations from this article is granted subject to appropriate credit given to www.shipsandports.com.ng as the source.