NYK Plans Huge LNG Investment

Japan’s Nippon Yusen Kaisha (NYK), one of the largest shipping companies in the world, said it aims to invest JPY530bn (approximately $5.13bn) in LNG and the offshore business over the next five years.

NYK said in the company’s new medium-term management plan that it “realizes strong business portfolio against changing market conditions by utilizing business chances such as LNG (liquefied natural gas) transportation and offshore business, and strengthens financial ground which enables large-scale investment, and sets out NYK Group’s sustainable growth.”

The company plans to expand its fleet of LNG tankers from 67 at present, including jointly owned vessels, to 100 by 2019.

NYK is also looking to develop a new business related to LNG as a fuel for ships.

[mappress]
LNG World News Staff, April 1, 2014; Image: NYK