NYK to Construct Cutting-Edge LNG Carrier with Largest Capacity in Partnership with Gaz de France
July 20, 2004
Nippon Yusen Kaisha (NYK) and Gaz de France (GDF) have ordered a large, cutting-edge liquefied natural gas (LNG) carrier from Chantiers de l'Atlantique through their joint shipowning company, NYK Amerteur. NYK has a stake of 60 percent in NYK Amerteur and GDF, the balance of 40 percent. NYK has concluded a 20-year time-charter deal with GDF.
NYK will also acquire a 20 percent interest in Gazocean, a shipmanagement company under the GFD group, to provide its partner with support in the management of commercial vessels.
Entering into a business partnership with the French public gas corporation, which is ranked fourth in the world in terms of the volume of LNG it imports annually, will enable NYK to establish a base on the transatlantic and Mediterranean trades upon which it can aggressively develop LNG transport services.
Specifications of the NewbuildingShipbuilder : |
Chantiers de l'Atrantique |
| Completion : | October 2006 (planned) |
| Tank type and total capacity : | |
| Membrane-type (CS1), 153,500 cubic meters Propulsion system: Electric propulsion system powered by gas-fired diesel engines | |
The LNG carrier will be known for employing an electric propulsion system powered by gas-fired diesel engines.
This new type of propulsion system has the potential to replace steam-turbine propulsion, which is the leading system today but has problems with fuel consumption. NYK also employs a system to re-liquefy gasifying LNG, which is driven by turbines powered by regular fuels. NYK intends to secure technological predominance by adopting these two LNG transport-related unique technologies.
Investment in Gazocean
NYK will cooperate with Gazocean in terms of ship management for the purpose of further enhancing its partnership with GDF. NYK has been managing the safety of its LNG carriers for a long time, and it has been highly rated by its partner.
Taking advantage of establishing a partnership with Gazocean, NYK will develop and accumulate more shipmanagement know-how, while making efforts to seek for higher safety and efficiency in operating LNG carriers.
As part of its medium-term management plan, known as Forward 120, NYK is in the process of encouraging its bulk and energy sector to make inroads aggressively into the Atlantic. NYK has been endeavoring to won new contracts for LNG transport services since it dispatched dedicated managers in London and Houston in October 2002. The conclusion of agreement for entering into a business partnership with GDF, which has followed the recent announcement of ordering two LNG carriers for a Nigeria project, indicates that Forward 120 has been fruitful so far. NYK will continue to promote the global development of LNG transport services by enhancing safety and efficiency via the development and accumulation of new technologies.