January 26, 2018
Kawasaki Kisen Kaisha, Ltd.
Chubu Electric Power Co., Inc.
Toyota Tsusho Corporation
Nippon Yusen Kabushiki Kaisha
Kawasaki Kisen Kaisha, Ltd. (Head office: Chiyoda-ku, Tokyo; President & CEO: Eizo Murakami; hereinafter “K” Line), Chubu Electric Power Co., Inc. (Head office: Higashi-ku, Nagoya; President & Director: Satoru Katsuno; hereinafter Chubu Electric Power), Toyota Tsusho Corporation (Head office: Nakamura-ku, Nagoya; President & CEO: Jun Karube; hereinafter Toyota Tsusho), and Nippon Yusen Kabushiki Kaisha (Head office: Chiyoda-ku, Tokyo; President: Tadaaki Naito; hereinafter NYK Line) announce today that the four companies have begun joint discussions on the commercialization of a new business to supply liquefied natural gas (LNG) as a marine fuel to ships in the Chubu (central region) of Japan.
LNG is expected to become an important alternative to heavy fuel oil due to its relatively low emissions* of air polluting substances and greenhouse gases, which will enable ships to meet increasingly stringent international regulations on emissions. The four companies will jointly discuss specific LNG customers and supply methods in preparation for the commercialization of LNG bunkering business.
* Compared to heavy fuel oil, the use of LNG can reduce emissions of sulfur oxides (SOx) and particulate matter (PM) by approximately 100%, nitrogen oxides (NOx) by as much as 80%, and carbon dioxide (CO2) by approximately 30%.
NYK Line, press release