Japanese Shipping Giants Plan USD 17.6 Billion LNG Tanker Orders

Japan’s largest shipping companies, Nippon Yusen, Mitsui O.S.K. Lines and Kawasaki Kisen Kaisha plan to order about 90 new LNG tankers, worth approximately $17.61 billion, by 2020.

Mitsui O.S.K. Lines also plans to increase the number of its LNG tankers to 110 by 2020 from 70 now, a spokesman told Reuters.

Nippon Yusen aims to expand its LNG tanker fleet to 100 by 2020 from 70 now, while Kawasaki Kisen Kaisha will order 20 new LNG tankers before the end of the decade, according to Reuters.

Japan’s monthly LNG imports have been rising steadily year on year, due to the shutdown of nuclear reactors after devastating earthquake and tsunami in March 2011.

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LNG World News Staff, November 29, 2013