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NYK and Knutsen Group invest in LNG tankers

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LNG Industry,

Nippon Yusen Kaisha (NYK) and the Knutsen Group / TS Shipping Invest AS (TSSI) have concluded joint investment and financing arrangements on a 50:50 basis for two new 176 000 m3 ME-GI LNG tanker vessels.

The deal is in respect to the Knutsen NYK joint venture shuttle tanker business.

The LNG tankers will be chartered to Spanish energy company Gas Natural on a 20-year plus basis from their delivery built in Hyundai Heavy Industries Co. Ltd (HHI) in H2 2016.

The LNG tanker vessels will have an overall length of approximately 290 m, with a breadth of approximately 46.4 m.

Sumitomo Mitsui Banking Corp.Europe Ltd acted as structuring bank and book-runner for the financing arrangements with finance provided by Sumitomo Mitsui Banking Corp. Europe Ltd, BNP Paribas, Caixabank S.A., Crédit Industriel et Commercial, and the London branch of Société Générale.

NYK is continuing its efforts for stable, economical transport of LNG, which is increasing in demand throughout the world.

Adapted from press release by

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