The three largest Japanese shipping companies are to significantly increase their LNGC operations.
With global LNG production expected to expand, Mitsui OSK Lines (MOL), NYK and ‘K’ Line plan to dominate the world’s LNG shipments.
As a result, it is also expected that the three domestic shipbuilders will benefit from new LNGC orders.
Nihon Keizai Shimbun (Nikkei) reported that the companies plan to grow their LNGC fleets by 47% by early 2031.
Mitsui Merchant Marine (MOL), which operates 97 LNGCs, plans to expand the fleet to 140 by 2029 and 150 by early 2031.
NYK will increase its fleet to 120 LNGCs by early 2029 from 91 previously, while ‘K’ Line also plans to grow its number of LNGCs from 46 to 75 by early 2031.
Nikkei predicted that the total amount of investment in new LNGCs will exceed Yen1 trill. The three companies are reportedly planning to share the cost with overseas partners.
