NYK, GAIL sign charter deal for LNG carrier
Japanese shipping company NYK has signed a time-charter contract with GAIL (India) Limited, India’s largest natural gas company, for a liquefied natural gas (LNG) carrier.
Grace Emilia, the vessel that will be chartered, is equipped with a WinGD-made dual-fuel slow-speed diesel engine that can operate on marine gas oil or boil off gas stored in the cargo tank. The vessel also features a re-liquefaction system that can use re-liquefied excess boil-off gas and return it to the cargo tank.
The cargo tank is a 174,000 cubic meter capacity membrane-type tank that makes 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.
The LNG carrier was built in 2021 by Hyundai Samho Heavy Industries Co. and is sailing under the flag of Bahamas. Its carrying capacity is 89730 DWT while its overall length is 297.16 meters and its width 46 meters.
GAIL is India’s state-owned natural gas major under the jurisdiction of the Ministry of Petroleum & Natural Gas and is a major reseller and pipeline operator in then country. NYK had been in discussions with GAIL for a time-charter contract and other LNG-related businesses. Looking to the NYK’s LNG transportation record and new engagement, an agreement on this contract was achieved, the company revealed.
Following the recent COP26 agreement by countries to gradually reduce coal-fired power generation, it is expected that demand for LNG, which has a lower environmental load than other fossil fuels, will increase in the future, especially in Asia.
To meet the decarbonization targets imposed by the International Maritime Organisation (IMO), the Japanese shipping company has been investing in green fuels, including LNG. NYK positioned LNG fuel as a bridge solution until marine fuels like hydrogen and ammonia can be used for zero-emission ships.
In October this year, the firm ordered four LNG carriers at Samsung Heavy Industries (SHI).