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NYK signs long-term charter agreement for two LNG carriers with Total

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LNG Industry,

NYK Line has announced that it has signed a long-term contract with Total Gas & Power Chartering Ltd (TGPCL), a subsidiary of Total.

According to the statement, the contract calls for TGPCL to charter two LNG carriers from NYK. These vessels will be constructed by Samsung Heavy Industries Co. Ltd in Korea, with delivery scheduled for 2021.

Both ships will feature a WinGD-made dual-fuel slow-speed diesel engine, which can operate on either marine gas oil or boil-off gas (BOG) stored in the cargo tank. In addition to this, the ships will also feature a reliquefaction system that can use surplus BOG effectively. The cargo tank will be a 174 000 m3 capacity membrane type tank that will make use of advanced insulating materials to supress the boil-off rate in the cargo tank and realise superior efficiency and economical LNG transportation.

In the statement, NYK claims that in September it concluded a long-term charter agreement with Total for another new LNG vessel. In addition to this, NYK offers ship management services through Gazocean (a French joint venture between NYK and Total), and will continue to deepen its relationship with Total in both LNG transportation and ship management.

In alignment with its medium-term management plan ‘Staying Ahead 2022 with Digitalization and Green’, the NYK Group is seeking to secure stable freight rates through long-term contracts, provide flexible and optimal LNG transport options that meet customers’ diversifying needs, and continue its efforts to contribute to the stable supply of LNG.

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