NYK concludes time-charter for new VLGC

The 83,000 cu m VLGC, built by Mitsubishi Heavy Industries (MHI), will be delivered to Kyoei Tanker in 2015 and chartered out to NYK.

Upon delivery, the newbuilding will be assigned immediately to the service designated in the long-term contract with Astomos Energy.

“This is the 10 th VLGC for Astomos, and NYK will continue to reinforce its close, long-term relationship with the energy company,” NYK said in a statement on Friday.

Astomos plays an important role in the LPG business, which is expected to continue to grow, particularly as progress is made on new LNG projects in the US and West Africa, according to NYK.

“NYK will also continue its efforts to reduce emissions by providing stable and economical energy transport services,” it added.