NYK orders 174,000 cbm LNG carrier for JERA charter

On January 31, Japanese shipping company NYK and compatriot power generation company JERA signed a long-term charter contract for a new liquefied natural gas (LNG) carrier to be built in South Korea by Hyundai Samho Heavy Industries.

The 289.9-meter-long vessel will be delivered in 2027 and will be used to transport LNG for JERA.

As explained, the contract will contribute to the stable supply of LNG in partnership with JERA and strengthen and promote NYK’s LNG business as a core business of the company.

Specifically, the vessel will be equipped with a next-generation X-DF2.2 iCER dual-fuel, low-speed diesel engine that uses fuel oil and boil-off gas for the main engine and a re-liquefaction system that can use surplus boil-off gas effectively.

The vessel will have a 174,000 cubic meter capacity membrane-type tank that uses advanced insulating materials to realize superior efficiency and economical LNG transportation, according to the company.

The vessel is the 11th LNG carrier NYK has chartered under a time charter contract with JERA. In its medium-term management plan announced in March 2023, NYK positioned its bulk shipping business as a core business and will invest JPY 300 billion (about $2.03 billion) in LNG carrier construction by fiscal 2026.