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NYK Concludes Time-charter Contract for Two New LNG Carriers for Cameron LNG Project

May 14, 2015

On April 30, NYK concluded a basic agreement on a time-charter contract for two new liquefied natural gas (LNG) carriers with Diamond Gas International Pte. Ltd.* NYK also concluded a contract with MI LNG Company Limited** (head office: Tokyo; president: Haruhiko Omi) for the construction of the LNG carriers.
These new ships will be managed by NYK after being delivered in 2018 and assigned to transport LNG from the Cameron LNG Project, which is located in the U.S. state of Louisiana. NYK and the Mitsubishi Corporation (head office: Tokyo; president and CEO: Ken Kobayashi) both have equity interests in this project.
The new vessels will have apple-shaped tanks as part of the Sayaringo series of tanks, which have greater LNG-carrying capacity. These next-generation carriers will also have a structure that reduces ship weight and air resistance, in addition to a hybrid propulsion system combining a steam turbine and engines that can be fired by gas (STaGE; Steam Turbine and Gas Engines), resulting in dramatic cuts in fuel consumption and CO2 emissions.
In accordance with its “More Than Shipping 2018” medium-term management plan, NYK will continue its efforts to be a part of stable and economical LNG transport services.
* Diamond Gas International Pte. Ltd.
A Singapore-based wholly owned subsidiary of the Mitsubishi Corporation. 
**MI LNG Company Limited
A joint venture established in April 2013 by Mitsubishi Heavy Industries Ltd. (equity ownership 51%) and Imabari Shipbuilding Co. Ltd. (49%) for designing and marketing new LNG carriers.
Outline of LNG Carriers

Cargo tank capacity:
about 165,000 cubic meters
Gross tonnage:
about 146,200 tons
Length overall:
about 293.5 meters
48.94 meters
Main engine:
STaGE (Steam Turbine and Gas Engines)
19.5 knots
Nagasaki Shipyard & Machinery Works, Mitsubishi Heavy Industries Ltd.
2018 (scheduled)

Related Press Releases:
May 17, 2013, "NYK Establishes Consortium for Cameron LNG Project"
August 7, 2014,”Final Investment Decision Reached on Cameron LNG Project”
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