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A consortium comprising Nippon Yusen Kabushiki Kaisha (NYK), Mitsui O.S.K. Lines, Ltd. (MOL), Kawasaki Kisen Kaisha, Ltd. (???K??? Line), and the Shipping Corporation of India Ltd. (SCI) took delivery of a new LNG vessel on November 30, 2016, in South Korea.
The vessel, PRACHI, has a capacity of 173,000 m3 and was built to order by Hyundai Heavy Industries Co. Ltd. based on a long-term time charter contract with Petronet LNG Limited (PLL). A naming ceremony for the ship was held on October 18, 2016.
PLL, India???s first importer of LNG, currently brings in 7.5 million tons of LNG a year from Qatar using three LNG carriers. PRACHI is the fourth vessel for the transport of LNG to India and will be employed in the Gorgon LNG Project in Australia.
SCI has been operating and managing all the LNG tankers that are under long term charter with PLL. SCI also takes over as manager of PRACHI since delivery on November 30, 2016.
The four-company consortium will make every effort for safe transportation using this advanced new vessel, which is expected to contribute to the steady supply of LNG to India as energy demand continues to grow.
Outline of PRACHI
Length overall: 294.97 meters
Breadth: 45.60 meters
Summer molded depth: 12.50 meters
Gross tonnage: 112,791 tons
Cargo tank capacity: 90,328 tons
Shipbuilder: Hyundai Heavy Industries Co. Ltd.
Flag: Singapore
Outline of Charter Contract
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Owner |
India LNG Transport Company (No. 4) Private Limited (Headquarters: Singapore), JV by Nippon Yusen Kabushiki Kaisha, Mitsui O.S.K. Lines, Ltd., Kawasaki Kisen Kaisha, Ltd., and the Shipping Corporation of India Ltd. |
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Charterer |
Petronet LNG Limited |
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Charter period |
19 years |
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Vessel |
One new membrane-type LNG carrier (173,000 m3) |
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Shipbuilder |
Hyundai Heavy Industries Co. Ltd. |
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Ship management |
The Shipping Corporation Of India Ltd. |
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NYK has signed a joint-venture agreement with Vietnam Ocean Shipping Agency Corporation (VOSA)* to establish NYK Auto Logistics (Vietnam) (NALV), a logistics company for finished cars. On December 2, a signing ceremony was held at the NYK head office in Tokyo and attended by Vu Xuan Trung, general director of VOSA, and NYK president Tadaaki Naito.
NALV will be owned by NYK (80%) and VOSA (20%) and will offer high quality services for inland logistics such as the storage, delivery, and PDI** of imported cars to Vietnam, where sales are strong and increased demand is expected.
NYK currently has a stake in over 40 companies all over the world providing finished car inland logistics, often combining inland logistics with sea transport by RORO vessels to offer a total logistics service. NYK plans to offer a similar comprehensive service throughout Vietnam.
Based on the company???s "More Than Shipping 2018" medium-term management plan, the NYK Group will utilize its accumulated expertise of high-quality transportation services around the world to secure stable profits.
* Vietnam Ocean Shipping Agency Corporation (VOSA)
A shipping agent that is part of Vietnam National Shipping Lines (VINALINES), a government-managed shipping company in Vietnam.
** PDI (pre-delivery inspection): Services for finished vehicles ??? such as final inspections, repairs, and parts application ??? before delivery to car dealer.
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NYK has placed an order for 4,700 additional brand-new 40-foot refrigerated (reefer) containers, and the delivery of the new containers commenced in November. NYK procured 5,500 of the same type of containers last year, and the average age of company???s fleet of over 40,000 reefer containers has now fallen to four years.
The new order includes 600 Controlled Atmosphere (CA) containers. The advanced technology of these CA units ensures the freshness of perishable agricultural products, such as fruits and vegetables during long ocean transits. The CA technology regulates not only the temperature within the reefer unit but also the oxygen and carbon dioxide levels. These 600 CA units will be used mainly for the transportation of fruits from Latin America to Japan and other countries in the Asian region, and then for the export of Japanese vegetables, which are garnering more attention these days.
The demand for transportation by refrigerated containers is expected to expand at a solid pace in line with a strategy of economic growth by the Japanese government. The NYK Group will continue to proactively invest in its high-quality, competitive service in this growing field.
