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NYK, the Mitsubishi Corporation (MC), Toho LNG Shipping Co., Ltd. (Toho LNG Shipping),* and Tohoku Electric Power Co., Inc. (Tohoku Electric Power) will participate in the joint ownership of a new liquefied natural gas (LNG) vessel for the Cameron LNG project in the U.S. through the jointly owned company Diamond LNG Shipping 3 Pte. Ltd. (DLS-3).**

In December 2015, MC reached agreement on a shipbuilding contract with MI LNG Company Limited,*** in addition to a heads of agreement for time-charter party with Diamond Gas International Pte. Ltd.**** Then in May 2016, MC established a vessel owning company, DLS-3, on the assumption of LNG vessel co-ownership with NYK, Toho LNG Shipping, and Tohoku Electric Power.

Since these four companies have received formal business approval by relevant authorities, NYK, Toho LNG Shipping, and Tohoku Electric Power now have an equity stake in DLS-3. The shipbuilding contract and the heads of agreement for the time-charter contract have thus been transferred by MC to DLS-3.

The new LNG vessel which will be built by Mitsubishi Heavy Industries Shipbuilding Co. Ltd.***** have a capacity of 165,000 m3, and be a "Sayaringo STaGE” carrier.****** Upon completion in 2019, the ship, which will be managed by NYK, will be assigned to transport LNG for Toho Gas Co., Ltd. and Tohoku Electric Power from the Cameron LNG Project located in the U.S. state of Louisiana. NYK and MC both have an equity stake in this project. 

As LNG demand throughout the world continues to grow, NYK will continue its efforts to promote the Cameron LNG project and provide stable and economical LNG transport services.

 

* Toho LNG Shipping Co., Ltd.

A wholly owned LNG vessel owning company of Toho Gas Co., Ltd.

 

** Diamond LNG Shipping 3 Pte. Ltd.

Established in Singapore for LNG vessel ownership and transportation of LNG. The company is owned by NYK (40%), MC (40%), Toho LNG Shipping (10%), and Tohoku Electric Power (10%).

 

*** MI LNG Company Limited

A joint venture established in April 2013 by Mitsubishi Heavy Industries Ltd. (MHI, equity ownership 51%) and Imabari Shipbuilding Co., Ltd. (49%) for designing and marketing new LNG carriers.

 

**** Diamond Gas International Pte. Ltd.

A wholly owned subsidiary of MC located in Singapore.

 

***** Mitsubishi Heavy Industries Shipbuilding Co., Ltd.

A wholly owned group company of MHI that focuses on the construction of merchant vessels in Nagasaki.

 

****** Sayaringo STaGE

A next generation LNG carrier that has a continuous steel cover over its spherical aluminum tanks and a hybrid propulsion system named STaGE (Steam Turbine and Gas Engines) which is developed by Mitsubishi Heavy Industries Shipbuilding Co., Ltd. The characteristics of the STaGE are the "Ultra Steam Turbine plant", a highly efficient reheating steam type marine turbine, and a dual-fuel diesel engine capable of operating on both gas and oil, which form a highly fuel efficient propulsion system.

The "Circle Japan Grand Cruise,” a luxurious one-month voyage operated by NYK Cruises Co., Ltd. (head office: Yokohama; president: Hiroshi Hattori), has been recognized with an Award of Excellence at the 2016 Cruise of the Year Awards* sponsored by the Japan Oceangoing Passenger Ship Association (JOPA).

This cruise was a new offering on Asuka II from June 5 to July 8, 2016, and was highly evaluated for its high occupancy rate of 85 percent despite its 33-day length. The early summer voyage circled Japan and even included a northern stop at Petropavlovsk-Kamchatsky in Russia and a southern visit to Keelung, Taiwan. A local production for local consumption policy, which resulted in good use of local food and collaborations with local chefs and restaurants at each port, was also praised. An attempt to make the cruise affordable to solo travelers was also successful with unaccompanied guests accounting for a quarter of all passengers.

On December 15, an awards ceremony was held in Tokyo, and JOPA chairman Naohiko Yamaguchi presented a plaque to Masahiro Arai, senior managing director at NYK Cruises Co., Ltd.

This year is the memorable 25th year of service by the Asuka cruise brand. The NYK Group will continue its efforts to offer creative cruise experiences that best meet the passions of its customers. 

* Cruise of the Year

An annual award presented by the cruise section of JOPA. The purpose of the award is to recognize companies which offer a notable cruise that has contributed to the development of the travel trade, thus increasing the motivation to produce attractive cruises and services for customers. This is the ninth year that the award has been presented. Awards of Excellence are given to recognize original cruises that attracted a significant number of customers, challenged new markets, and generate significant social attention.

 

On November 30 at NYK’s 10th annual Environmental Management Conference in Tokyo, Asahi Unyu Kaisha Ltd. (head office: Aichi; president and CEO: Toshiya Kozawa) and the GENEQ Corporation (head office: Fukuoka; president: Keiji Ushiyama) were selected from among 33 domestic NYK Group companies for recognition of environmental activities that resulted in the improvement of company value. 

NYK holds this conference once a year with NYK Group companies to share information on environmental practices and strengthen environmental management. The two recognized group companies were highly commended for their rooted activities within their communities and creative solutions. Details are provided below.

 

Asahi Unyu Kaisha Ltd.

Activities: (1) Commitment to the Aichi CO2 Emissions Reduction Manifesto 2020; (2) environmental preservation activities.

Point of evaluation: (1) Received the highest rank, three stars, for achievements in CO2 emissions reduction in accordance with the Aichi CO2 Reduction Manifesto 2020 established by Aichi prefecture in 2012; (2) recognition of employees’ proactive participation in environmental preservation activities, such as beach cleaning in Fujimae-higata, Nagoya city.

 

GENEQ Corporation

Activity: Reduction of environmental burden by utilizing GENEQ SHIELD®

Point of evaluation: Reduced CO2 emissions through power consumption reduction by covering the interiors of dry containers with GENEQ SHIELD® and transporting temperature-sensitive cargo that is usually transported by reefer container. Moreover, the company utilized resources effectively by recycling and reusing GENEQ SHIELD®.

GENEQ SHIELD® is a logistics support product that covers the interiors of dry container with magnets installed advanced heat insulation material to prevent quality degradation of cargo experiencing sudden temperature rises and drops, heat, and dew condensation. GENEQ SHIELD® is made by the GENEQ Corporation and is patented. The product presents customers with a more economical transport option over reefer containers.

 

The conference participants were also captivated by a presentation by representatives from Fujitsu Limited, who spoke about their company’s initiatives to realize a sustainable society.

NYK continues to enhance its activities to reduce the environmental impact of the entire NYK Group, and to cut CO2 emissions by improving the fuel efficiency of the company’s ships by 15% by fiscal 2018 from fiscal 2010, aiming to be an advanced company in the safety and environmental fields through the introduction of electricity-saving equipment and power-saving activities.