Japan’s NYK to further expand its large LNG fleet

Japan’s shipping giant NYK is working to further expand its fleet of liquefied natural gas carriers and LNG-powered vessels, according to the company’s president and CEO, Takaya Soga.

Soga said on November 6 during NYK’s earnings presentation on second-quarter FY 2023 results that the firm has secured “several medium and long-term charter contracts for LNG carriers.”

“We are working to expand our fleet,” he said.

Soga did not provide further details.

According to the presentation, NYK had 115 LNG carriers in its fleet as of September 30, including pre-delivery vessels with long-term charters.

Out of these, 86 LNG carriers are in operation, the presentation shows.

Besides LNG carriers, NYK is expanding its fleet of “environment-friendly” vessels, including LNG-fueled vessels, LPG-fueled vessels, and methanol-fueled vessels, Soga said.

Soga also noted that NYK is working to convert its LNG-fueled tugboat Sakigake to be able to use ammonia as fuel.

NYK currently has 13 LNG-fueled vessels, 2 LPG-powered vessels, and 3 methanol-fueled ships, in its fleet.

The firm also has one LNG bunkering vessel.

NYK’s sixth LNG-fueled pure car and truck carrier (PCTC), Sumire Leader, recently started its transportation service for Japan’s Mazda Motor.

The company is positioning LNG fuel as one of the bridge solutions until future zero-emission ships are realized and previously said it plans to take delivery of a total of 20 new LNG-fueled car carriers by 2028.

It took delivery of Japan’s first LNG-powered PCTC, Sakura Leader, in October 2020, followed by the delivery of its second PCTC, Plumeria Leader, in March last year.

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