NYK Secures Charter Contract with Taiwan Power Company
March 7, 2007
Nippon Yusen Kaisha (NYK; Head office: Chiyoda-ku, Tokyo; President: Koji Miyahara) has secured a charter contract with Taiwan Power Company.*
This contract is for the transport of 1,000,000 tons of coal to Taiwan from Indonesia and Australia. The contract term is from March 2007 to January 2008, and this is the third consecutive year since 2005 that NYK and Taiwan Power Company have agreed to a one-year contract.
Due to recent increases in petroleum prices, most electric companies are focusing on fossil fuels such as coal, which is abundant and cost-efficient. This increases the demand for coal transportation. NYK will further expand its transportation business by responding to the needs of worldwide power suppliers.
---Outline of charter contract---| Contract term | March 2007-January 2008 |
| Carrier used | Bulk carrier (Panamax type) |
Taiwan Power Company was established in 1946 and is the only electric power distributor in Taiwan. Its total energy production including IPP in 2005 was 189.7 billion kilowatts. The power production distribution is 43.6% coal, 20.2% nuclear, 19.8% LNG, 6.7% cogeneration, 5.5% petroleum, 2.2% renewable energy, and 2% pumped storage.