France LNG Shipping inks another LNGC charter deal with EDF
French ship-owning company France LNG Shipping has signed another long-term charter contract for a new LNG carrier with EDF LNG Shipping, a subsidiary of Electricité de France.
South Korean shipyard Hyundai Samho Heavy Industries will deliver the new LNG carrier in 2025. According to this deal, the vessel will serve Electricité de France, or, specifically, its subsidiary for LNG transport.
This is the fourth vessel on a long-term time-charter contract with the EDF Group.
The new LNG carrier will be propelled by a WinGD-manufactured, dual-fuel slow-speed diesel engine. It will also feature an Air Liquide’s turbo-brayton refrigeration system that can tap surplus boil-off gas. Manufactured by GTT, the 174,000 cbm capacity membrane-type tank is made of advanced insulating materials that reduce the vaporisation rate.
France LNG Shipping is jointly owned by Japanese shipping major NYK Line and France’s Geogas LNG.
Commenting on the signing of the fourth long-term time-charter contract with the EDF Group, NYK executive officer Hironobu Watanabe said: “We are very pleased to have signed another long-term charter contract for a new LNG carrier with EDF LNG Shipping. This conclusion is of great significance for further promoting the NYK Group’s ESG management. We will continue to provide EDF with stable LNG transportation services under our strong partnership, contributing to energy transitions around the world.”
In February 2021, NYK released the “NYK Group ESG Story,” which aims to further integrate ESG into the company’s management strategy. In March 2022, NYK released the updated “NYK Group ESG Story 2022,” which introduces initiatives for integrating ESG into the group’s management strategies set forth in the “NYK Group ESG Story” and provides a partial explanation of the group’s sustainable growth strategy from a long-term perspective.
To promote ESG management, the NYK Group is encouraging new value creation as a sustainable solution provider through a business strategy that includes the transportation of LNG, which is expected to be a low-carbon bridging fuel prior to the transition to the future zero-emission fuels.