By December 13, 2018 0 Comments Read More →

NYK concludes long-term charter agreement for 3 LNG carriers with MC in Singpore

NYK signed long-term contracts with Diamond Gas International Pte Ltd (DGI), a wholly owned subsidiary of Mitsubishi Corporation (MC) located in Singapore, for DGI to charter from NYK three newly built liquefied natural gas (LNG) carriers. Previously, NYK concluded long-term time-charter contracts for three new LNG vessels for MC’s Cameron LNG project, so these most recent contracts bring the total to six carriers for MC. The NYK Group will be responsible for ship management for the three ordered LNG carriers, one which is scheduled to be delivered in 2020. For about 18 years, that ship will transport LNG from the U.S. state of Louisiana for the Cameron LNG project, in which NYK and MC both have a stake, as well as from other locations around the world.

The other two ships are scheduled to be delivered in 2021, and for about 17 years the ships will transport LNG from the LNG Canada project in British Columbia, Canada, in which MC has a stake, as well as from other locations around the world.

The three LNG carriers 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 carriers 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.

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The Louisiana Oil & Gas Association (known before 2006 as LIOGA) was organized in 1992 to represent the Independent and service sectors of the oil and gas industry in Louisiana; this representation includes exploration, production and oilfield services. Our primary goal is to provide our industry with a working environment that will enhance the industry. LOGA services its membership by creating incentives for Louisiana’s oil & gas industry, warding off tax increases, changing existing burdensome regulations, and educating the public and government of the importance of the oil and gas industry in the state of Louisiana.

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