NYK Behind LNG Carrier Order at Samsung

Japanese shipping company NYK is the Asian owner that ordered an LNG carrier from the South Korean shipbuilder Samsung Heavy Industries (SHI) last week.

The newbuilding has been chartered out to Total Gas & Power Chartering Limited (TGPCL), a subsidiary of French oil and energy firm Total, for a period of seven years.

The company has an option to extend the charter for one additional year.

NYK said that the LNG carrier would be equipped with a WinGD-made dual-fuel slow-speed diesel engine that can operate on marine gas oil or boil off gas stored in the cargo tank.

“The cargo tank will be a 174,000 cubic meter capacity membrane-type tank that will make use of advanced insulating materials to suppress the boil-off rate in the cargo tank. In addition, the new carrier will realize superior efficiency and economical LNG transportation through use of a re-liquefaction system that can use surplus boil-off gas effectively,” the company added.

Samsung revealed that the deal is worth around KRW 200.1 billion (USD 180 million).

The new vessel is due to be delivered by the end of March, 2021.

Illustration; Image Courtesy: LNG Carriers/ Flickr-Kees Torn under CC BY-SA 2.0 license