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NYK orders two new LNG carriers for charter to Mitsubishi subsidiary

NYK orders two new LNG carriers for charter to Mitsubishi subsidiary
Nippon Yusen Kaisha (NYK) will build two new 165,000 cu m LNG carriers for Mitsubishi Corporation’s Diamond Gas International on the back of a time-charter contract.

The two newbuildings will be constructed at MI LNG, a joint venture of Mitsubishi Heavy Industries and Imabari Shipbuilding, and scheduled for delivery in 2018.

Diamond Gas, the Singapore-based wholly-owned subsidiary of Mitsubishi Corporation, will deploy the ships to transport LNG for the Cameron LNG Project in the US state of Louisiana, under the ship management by NYK.

The newbuildings will have apple-shaped tanks for greater LNG carrying capacity, and a structure design that reduces ship weight and air resistance. The ships will also have a hybrid propulsion system combining steam turbine and engines that can be fired by gas, leading to cuts in fuel consumption and carbon dioxide emissions.

In January this year, NYK also concluded a 25-year time charter contract with Mitsui & Co for one new LNG carrier of 177,000 cu m in capacity for the same Cameron LNG Project.

Mitsui & Co will charter the NYK-owned LNG carrier when it is delivered from Mitsubishi Heavy Industries in 2018.