NYK Concludes Long-Term Charter Agreement for Four New LNG Carriers with EnBW

Source: www.gulfoilandgas.com 5/16/2023, Location: Asia

NYK has signed long-term charter contracts for four new liquefied natural gas (LNG) carriers with EnBW Energie Baden-Wuerttemberg AG (hereafter EnBW), a major German energy company.

These four vessels will be built at HD Hyundai Heavy Industries Co. Ltd. in South Korea and will be completed in sequence during 2027. The 174,000 cubic meter capacity membrane-type1 tanks will be made of advanced insulating materials that reduce the vaporization rate. They will be propelled by fuel efficient dual-fuel slow-speed two-stroke marine engines2. They will also feature a shaft generator3 and air lubrication system (ALS),4 making the ships more environmentally-friendly than conventional LNG carriers.

Comment by Yasuyuki Inami, Executive Officer, NYK Energy Division

We are very pleased to have signed this new long-term charter contract with EnBW. This conclusion is of great significance for further promoting the NYK Group's ESG management. We will continue to provide EnBW with reliable LNG transportation services under our strong partnership, contributing to energy transitions around the world.

Outline of Vessels

- Length overall: about 289.9 meters

- Breadth: about 46.1 meters

- Main engine: Dual-fuel low-speed two-stroke marine engine

- Cargo tank capacity: about 174,000 cubic meters

- Shipbuilder: HD Hyundai Heavy Industries Co. Ltd. (South Korea)

- Delivery year: 2027

- Flag: France

1 Membrane type
The inside of the tank is covered with a nickel-steel or a stainless-steel membrane to maintain low temperatures and absorb gas expansion.

2 Dual-fuel low-speed two-stroke marine engine
Fuel oil and boil-off gas (LNG vaporized in cargo tanks during navigation) can be used.

3 Shaft generator
A device in which a generator is attached to a rotating propeller shaft to supply electricity.

4 Air lubrication system (ALS)
Technology that uses air bubbles to reduce the resistance between the ship's hull and seawater. On March 10, 2023, the NYK Group released its medium-term management plan “Sail Green, Drive Transformations 2026 — A Passion for Planetary Wellbeing.” The NYK Group is promoting growth strategies with ESG at the core, based on the Group’s basic philosophy of “Bringing value to life” and a new corporate vision for 2030, which reads, “we go beyond the scope of a comprehensive global logistics enterprise to co-create value required for the future by advancing our core business and growing new ones.”

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