NYK Concludes Long-term Charter Agreement for Two LNG Carriers with Total

December 7, 2018

NYK signed a long-term contract with Total Gas & Power Chartering Limited (TGPCL),* a subsidiary of Total, a leading oil and energy company headquartered in France. The contract calls for TGPCL to charter from NYK two newly built liquefied natural gas (LNG) carriers that will be built by Samsung Heavy Industries Co. Ltd. in Korea and scheduled for delivery in 2021.

The two LNG carriers will be equipped with a WinGD-made dual-fuel slow-speed diesel engine (i.e., X-DF diesel engine) that has superior fuel-consumption efficiency and can operate on marine gas oil or boil off gas stored in the cargo tank. The carriers will also feature a re-liquefaction system that can use surplus boil-off gas effectively. The cargo tank will be a 174,000 cubic meter capacity membrane-type tank that will make use of advanced insulating materials** to suppress the boil-off rate (percentage of gas volume that vaporizes during navigation) in the cargo tank and realize superior efficiency and economical LNG transportation.

In September, NYK concluded a long-term charter agreement with Total for another new LNG vessel. In addition, NYK currently offers ship-management services through Gazocean, a French joint venture between NYK and Total, and will continue to deepen collaboration with Total in both LNG transportation and ship management.

In accordance with its new medium-term management plan “Staying Ahead 2022 with Digitalization and Green,” the NYK Group seeks to secure stable freight rates through long-term contracts, provide flexible and optimal LNG transport options that meet customers’ diversifying needs, and continue its efforts to contribute to a stable supply of LNG.

* Total Gas & Power Chartering Limited
A wholly owned subsidiary of Total responsible for transporting LNG, petcoke, and sulphur for the Total Group.

** A Gaztransport & Technigaz (GTT) made tank — i.e., the GTT Mark III flex cargo containment system — that has insulating materials to suppress the boil-off rate.

- Outline of Vessel
Cargo tank capacity: about 174,000 cubic meters
Length overall: about 293 meters
Breadth: about 45.8 meters
Main engine: X-DF diesel engine
Speed: 19.5 knots
Shipbuilder: Samsung Heavy Industries Co. Ltd.
Delivery year: 2021

- Reference
Announcement on October 2, 2018, “NYK Concludes Charter Agreement for LNG Carrier with Total,” https://www.nyk.com/english/news/2018/1191656_1687.html

The news on this website is as of the date announced and may change without notice.