Japan’s shipping giant NYK and compatriot power firm and LNG importer Jera have signed a ten-year charter agreement for one 174,000-cbm LNG carrier.
According to a statement by NYK, the vessel will be built by South Korea’s Hyundai Samho Heavy Industries and is scheduled to begin transporting LNG for Jera after completion in 2027.
This is the eleventh LNG carrier for which NYK has signed a time charter contract with Jera.
The vessel will be equipped with WinGD’s X-DF2.2 iCER dual-fuel, low-speed diesel engine, GTT’s Mark III Flex cargo containment tech, and a reliquefaction system.
It will be 289.9 meters long and 46.1 meters wide.
NYK’s president and CEO, Takaya Soga, said in November that NYK is working to further expand its giant fleet of LNG carriers and LNG-powered vessels.
According to NYK’s second-quarter FY 2023 earnings presentation, NYK had 115 LNG carriers in its fleet as of September 30, including pre-delivery vessels with long-term charters.
Moreover, out of these 86 LNG carriers are in operation.
NYK also recently said it is working with Namura Shipbuilding and Sasebo Heavy Industries to replace the main propulsion on steam turbine–driven Moss-type LNG carriers with a dual-fuel diesel engine.
Stuart Turley is President and CEO of Sandstone Group, a top energy data, and finance consultancy working with companies all throughout the energy value chain. Sandstone helps both small and large-cap energy companies to develop customized applications and manage data workflows/integration throughout the entire business. With experience implementing enterprise networks, supercomputers, and cellular tower solutions, Sandstone has become a trusted source and advisor. He is also the Executive Publisher of www.energynewsbeat.com, the best source for 24/7 energy news coverage, and is the Co-Host of the energy news video and Podcast Energy News Beat. Energy should be used to elevate humanity out of poverty. Let's use all forms of energy with the least impact on the environment while being sustainable without printing money. Stu is also a co-host on the 3 Podcasters Walk into A Bar podcast with David Blackmon, and Rey Trevino.
Stuart is guided by over 30 years of business management experience, having successfully built and help sell multiple small and medium businesses while consulting for numerous Fortune 500 companies. He holds a B.A in Business Administration from Oklahoma State and an MBA from Oklahoma City University.
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