Double-Hull VLCC Newbuildings
August 21, 2003
NYK Line has decided to build two additional 300,000-DWT double-hull VLCCs for the replacement of single-hull vessels. One of the two VLCCs will be ordered from Imabari Shipbuilding Co., Ltd. and the other from Mitsubishi Heavy Industries, Ltd. Both will be delivered during the first quarter of 2005.
Including the latest orders, NYK Line will have a total of seven VLCC newbuildings scheduled for completion during fiscal 2004 (ending in March 2005). The five VLCCs already on order are being built by four companies - one each by Mitsubishi Heavy Industries, Ltd. (for delivery in the second quarter of 2004), Universal Shipbuilding Corporation (the third quarter of 2004), and Imabari Shipbuilding Co., Ltd. (the fourth quarter of 2004) and two by IHI Marine United Inc. Of the latter, one for co-ownership with Kyoei Tanker Co., Ltd. will be delivered in the third quarter of 2004 and the other, for co-ownership with Shinwa Kaiun Kaisha, Ltd., will be delivered in the first quarter of 2005.
These additional newbuildings will bring to 23 the total number of double-hull vessels in NYK Line's VLCC fleet by the end of fiscal 2004, thereby increasing the proportion of double-hull vessels to approximately 80 percent.
NYK Line has been pushing ahead with changing over to double-hull tankers in line with its Environmental Action Plan for the protection of the marine environment. The replacement of the remaining small number of single-hull tankers will be accelerated with added vigor.