Japan: NYK Concludes Long-Term Charter Contract for LNG Carrier

NYK concluded a time-charter contract for a new LNG carrier with LNG Marine Transport Ltd. on February 28.

NYK also concluded a contract with Mitsubishi Heavy Industries, Ltd. for the construction of the LNG carrier.

The LNG carrier, which will be chartered for this contract, will be completed in 2014. The carrier will be used to transport LNG for Tokyo Electric Power Company (TEPCO) from LNG export terminals of Papua New Guinea or others where TEPCO purchase LNG under the operational management of LNG Marine Transport Ltd. for 15 years after completion.

This carrier will be fitted with the latest equipment, such as ultra steam turbines,2 which will reduce fuel expenses by about 15 percent; systems for ballast-water treatment;3 and systems for operations using low-sulfur fuel.4 The carrier features an environment-friendly design that incorporates a range of initiatives to safeguard the environment.

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Source: NYK, March 2, 2011;