NYK has signed a contract with Hanjin Heavy Industries & Construction Co. Ltd. in Korea to build an LNG bunkering vessel to provide gas to LNG-fuelled vessels.
In a joint initiative to develop a global market for the LNG bunkering business, NYK concluded a framework agreement with GDF Suez and Mitsubishi Corporation. As the first project under this initiative, GDF Suez, Mitsubishi Corporation, and NYK have agreed to construct an LNG bunkering vessel to form the core infrastructure for this business, enabling distribution of LNG fuel in the European maritime region.
Port of Zeebrugge
The vessel will be delivered in 2016, and will be based at the port of Zeebrugge, Belgium. The vessel will deliver LNG to LNG-fuelled vessels operating mainly in the North Sea and the Baltic Sea. With increased emission regulations, demand for LNG as a fuel is growing in the seas around Europe. This LNG supply and sales business will initially be targeted at LNG-fueled car carriers operated by United European Car Carriers (UECC).
In Northern Europe, approximately 50 LNG-fuelled vessels are already in operation.
GDF Suez is a charterer and co-owner of NYK’s LNG carriers. With Mitsubishi Corporation, NYK has established a relationship in both the LNG carrier business and the Cameron LNG project, representing upstream interests in the LNG value chain. Taking further advantage of these partnerships, GDF Suez, Mitsubishi Corporation, and NYK intend to establish a company to own the LNG bunkering vessel, as well as an LNG-fuel sales company, which will charter the vessel, to build a solid sales framework in Europe.
NYK promotes LNG
The NYK Group has been promoting practical use of environment-friendly LNG fuel by constructing LNG-fuelled car carriers and Japan’s first LNG-fuelled tugboat. The new LNG bunkering vessel is part of the Group’s new More Than Shipping 2018 medium-term management plan. By participating in the supply of marine fuel, NYK will further contribute to a more widespread use of LNG fuel in order to maintain a healthy environment.
Adapted from press release by Katie Woodward
Read the article online at: https://www.lngindustry.com/lng-shipping/02072014/nyk_orders_lng_bunkering_vessel_901/