NYK Enters Partnership Agreement with Kyushu Electric Power
June 29, 2017
NYK and Kyushu Electric Power Co. Inc. have agreed to partner in various fields such as liquefied natural gas (LNG) transport.
The agreement will allow Kyushu Electric Power to consider using ships in the NYK fleet for short-term demands of LNG transport, enabling NYK to improve its profitability through efficient vessel allocation and Kyushu Electric Power to improve its flexibility in LNG transport.
NYK and Kyushu Electric Power will also consider the feasibility of cooperation in complementary businesses (e.g., LNG bunkering) involving LNG supply and marine business. This agreement is based on the trusting relationship that both companies have built in the energy transport field over the years.
In a separate decision, NYK has assigned its LNG vessel, Grace Barleria (gross tonnage: 100,450 tons), to a charter contract for Kyushu Electric Power from this month. For up to about 11 years, this vessel will transport LNG from various projects such as the Wheatstone LNG project in Australia.
NYK will continue to provide flexible and optimal LNG transport options that meet customers’ diversifying needs and strengthen the base of businesses that can generate stable profits.