Four firms join forces to develop LNG bunkering in western Japan

Japanese shipping giant NYK is joining forces with three other compatriot firms to supply LNG as a marine fuel to ships in the Setouchi and Kyushu areas of western Japan.

In that regard, NYK signed a memorandum of understanding with fuel distributor Itochu Enex, city gas supplier Saibu Gas, and utility Kyushu Electric Power.

The parties have decided to examine the commercialization of a new LNG bunkering business, according to a statement by NYK on Wednesday.

This includes marketing activities to consumers such as Kyushu Electric for its LNG-fueled coal carriers, which should start work in fiscal 2023, as well as the construction and owning of LNG vessels required for ship-to-ship supply, NYK said.

NYK has this year revealed several developments related to LNG as fuel in order to slash emissions and meet IMO goals.

Most recently, the firm said it has joined forces with Monohakobi Technology Institute and Finnish engineering firm Elomatic to develop a design for an ammonia-ready LNG-fueled vessel.

The shipping giant also recently confirmed plans to order 12 LNG-powered pure truck and car carriers at two compatriot yards.

Including these additional 12 new vessels, NYK’s total number of LNG-fueled PCTCs would increase to 20 by fiscal 2028 through a total investment of about 200 billion yen ($1.79 billion).

Most Popular

South Korea’s Posco says first LNG carrier to start ops in H2

Posco International, a unit of South Korean steel producer Posco, plans to start shipping LNG with its first dedicated LNG carrier in the second half of this year.

Atlantic LNG shipping rates continue to decrease

Atlantic LNG freight shipping rates continued to decrease this week, while European prices also dropped compared to last week.

Canada’s Cedar LNG names FLNG

Canada’s Cedar LNG, a joint venture of Canada’s Pembina Pipeline and the Haisla Nation, has picked a name for its floating LNG facility, which will be located in the traditional territory of the Haisla Nation, on Canada’s West Coast.

More News Like This

Energy Transfer, Kyushu Electric ink long-term Lake Charles LNG deal

Energy Transfer, the developer of the proposed Lake Charles LNG export facility in Louisiana, has signed a long-term supply deal with Japan's Kyushu Electric Power.

China’s Hudong-Zhonghua delivers its 50th LNG carrier

Chinese shipbuilder Hudong-Zhonghua has delivered its 50th liquefied natural gas (LNG) carrier.

Ocean Yield to boost stake in France LNG Shipping

KKR-backed Ocean Yield has agreed to increase its stake in LNG carrier owner France LNG Shipping.

ONE plans LNG-powered containership order

Ocean Network Express (ONE), a joint venture of Japan's NYK, MOL, and K Line is eyeing an order for LNG dual-fuel container vessels, according to shipbuilding sources.