Tokyo LNG and NYK draw closer

Tokyo: NYK has secured a 20-year charter contract with Tokyo LNG Tanker Co which will result in the construction of a 153,000 cubic metre LNG carrier at Kawasaki Shipbuilding for delivery in 2009. The Japanese operator will have a 30% stake in the vessel with the rest taken by Tokyo LNG. The vessel will carry LNG from Australia and Malaysia for Tokyo LNG's parent Tokyo Gas Co and will later be used in other new LNG transport projects for Tokyo Gas.  NYK is involved in the ownership of two other LNG carriers used for Tokyo
Gas, but the new project is the first in which NYK will co-own a vessel solely with Tokyo LNG. [28/07/06]