NYK Places Order For Two LNG Carrier Vessels For The Purposes Of The Cameron Project

By Vessels

Nippon Yusen Kaisha (NYK) (based in Tokyo) placed an order for two LNG (Liquefied Natural Gas) carrier vessels to the MI LNG Company Limited shipbuilder. The two vessels are to be employed for the purposes of transporting gas to Japan from the US Cameron LNG project in Louisiana.

The company also signed a time-charter contract with Diamond Gas International regarding the two brand new 165,000 CBM LNG carrier vessels. The contract is to come into force upon the carriers’ delivery in 2018.

The two ships are going to have apple-shaped tanks, which are to be along the lines of the Sayaringo tank series, that offer a greater capacity for carrying LNG. The innovative carriers are also going to have a structure which will contribute for reducing ship weight and air resistance, along with a hybrid propulsion system that will offer a swift combination between a steam turbine and engines, which if desired, have the ability to be fired by gas (STaGE; Steam Turbine and Gas Engines).

Cameron LNG falls under the joint ownership of Mitsui, GDF SUEZ, Sempra and Japan LNG Investment, which is owned jointly by NYK and Mitsubishi Corporation. The two companies have a total share of 16.6% regarding the Project.

Expectations are for the export capability level of Cameron LNG to reach roughly 12 million tons per year and it is going to be utilized by GDF SUEZ S.A., Mitsubishi and Mitsui from 2018, according to a tolling agreement that was reached by all parties involved.

Back in April of 2011, NYK initiated its More Than Shipping 2013 three-year medium term management plan, and among the goals set by the plan was for the company to increase its business’ size via a leverage of its LNG know-how and offshore business ventures.

MI LNG is a jointly-established venture between Imabari Shipbuilding and Mitsubishi Heavy Industries (MHI) that was started in order to design as well as construct LNG carrier vessels.