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.
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).