NYK, TSSI Invest in ME-GI LNG Tanker Duo

Nippon Yusen Kaisha (NYK) and the Knutsen Group / TS Shipping Invest AS (TSSI), have concluded joint investment and financing arrangements on a 50:50 basis for two new 176,000 m3 ME-GI LNG tanker vessels that will be chartered to Spanish energy company Gas Natural on a 20-year plus basis from their delivery built in Hyundai Heavy Industries Co. Ltd. in the second half of 2016.

The agreements are being reached with respect to the Knutsen NYK joint venture shuttle tanker business (KNOT).

Sumitomo Mitsui Banking Corporation Europe Ltd. acted as structuring bank and book-runner for the financing arrangements with finance provided by Sumitomo Mitsui Banking Corporation Europe Ltd., BNP Paribas, Caixabank S.A., Crédit Industriel et Commercial, and the London branch of Société Générale.

NYK said that it plans to continue its “efforts for stable, economical transport of LNG, which is increasing in demand throughout the world.”

[mappress]
Press Release, May 27, 2014