NYK concludes charter agreement with Total for LNG carriers
NYK has signed a new long-term contract with Total Gas & Power Chartering Limited (TGPCL),* a subsidiary of Total, a leading oil and energy company headquartered in France. The contract calls for TGPCL to charter from NYK a newly built liquefied natural gas (LNG) carrier that will be built by Samsung Heavy Industries Co. Ltd. in Korea and scheduled for delivery in 2021.
The LNG carrier will be equipped with a WinGD-made dual-fuel slow-speed diesel engine (i.e., X-DF diesel engine) that has superior fuel-consumption efficiency and can operate on marine gas oil or boil-off gas stored in the cargo tank. The carrier will also feature a re-liquefaction system that can use surplus boil-off gas effectively. The cargo tank will be a 174,000 cubic meter capacity membrane-type tank that will make use of advanced insulating materials** to suppress the boil-off rate (percentage of gas volume that vaporizes during navigation) in the cargo tank and realize superior efficiency and economical LNG transportation.
NYK concluded time-charter contracts with Total last year for three LNG vessels, so this most recent contract brings the total to four LNG carriers and reinforces the close relationship between the two companies.
In accordance with its medium-term management plan “Staying Ahead 2022 with Digitalization and Green,” the NYK Group seeks to secure stable freight rates through long-term contracts, provide flexible and optimal LNG transport options that meet customers’ diversifying needs, and continue its efforts to contribute to a stable supply of LNG.