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NYK has agreed to joint ownership of a liquefied natural gas (LNG) carrier with the Kansai Electric Power Co., Inc. (KEPCO; head office: Osaka; president and director: Shigeki Iwane) through a vessel-owner company shared by the two companies (NYK 30%, KEPCO 70%). This co-ownership is the first between NYK and KEPCO, and is expected to lead to a stronger relationship among the two companies.

The vessel is being built at the Sakaide shipyard of Kawasaki Heavy Industries Ltd. and upon completion in late 2017 will be assigned to the Cove Point LNG project in the United States to transport LNG for 20 years.

The new ship will be equipped with a dual-fuel diesel electric propulsion engine that reduces fuel consumption over that of a conventional steam turbine engine. Moreover, the vessel suppresses the boil-off rate of the LNG in the cargo tank to 0.08 percent of tank volume per day, the world???s lowest level. These advanced technologies mitigate environmental burdens and improve operational efficiency for LNG transportation.

NYK will continue to make use of its 30-plus years of experience in LNG transport to provide stable energy transportation for society.

Outline of the New LNG Carrier