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NYK and KEPCO to co-own LNG carrier

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LNG Industry,

NYK has announced that it has agreed to joint ownership of an LNG carrier with the Kansai Electric Power Co. Inc. (KEPCO) through a vessel-owner company shared by the two companies (NYK 30%, KEPCO 70%).

This deal marks the first co-ownership between the two companies.

The LNG carrier is being built at Kawasaki Heavy Industries Ltd’s Sakaide shipyard in Japan. Upon completion in late 2017, the LNG carrier will be assigned to the Dominion Cove Point LNG project in the US to transport LNG for 20 years.

The LNG carrier will be equipped with a dual-fuel diesel electric propulsion engine. The vessel suppresses the boil-off rate of the LNG in the cargo tank to 0.08% of tank volume per day, the world’s lowest level.

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LNG carrier news