LNG

Nippon Yusen Kabushiki Kaisha, the Japanese shipping company known has NYK Line, is continuing to expand its liquefied natural gas-powered fleet of vessels now numbering over 800 owned and operated ships, including 86 LNG carriers.

Sept 14 (LNGJ) - Mitsui OSK Lines, the Japanese shipping company, has signed time charter contracts for four newbuild LNG carriers with a subsidiary of Russian LNG plant owner and developer Novatek. MOL said its vessels with 174,000 cubic metres capacity would be constructed in South Korea by Daewoo Shipbuilding and Marine Engineering and are scheduled for delivery in 2024.

   “The newbuilding LNG carriers are equipped with the cutting-edge MAN Energy Solutions engines, which offer major improvements in fuel efficiency,” said MOL. “There is also a new design that generates less boil-off gas from cargo tanks through the use of the re-liquefaction unit on board, and a generator system that uses the rotating propeller shaft for power generation,” it added.

Oct 23 (LNGJ) - NYK Line, the Japanese shipping company with over 700 vessels including 87 tankers and LNG carriers, has signed a deal with French energy company Total for all of its shares in the ship management company Gazocéan. “Based in Marseille, France, and responsible for the management of six LNG carriers. Gazocéan is now a wholly-owned subsidiary of NYK,” said the Japanese company. 

 “The move will strengthen NYK’s ship management system and expand the company’s LNG transportation business in France,” added NYK Line. “Before the purchase, NYK held 20 percent of Gazocéan shares and Total held 80 percent,” it explained.

The American Bureau of Shipping, the US maritime classification society, and Japanese shipping company Mitsui OSK Lines have signed an accord to collaborate on up to 14 new gas carriers expected to transport cargoes from the US to North Asia as well as other global markets.