NYK Concludes Fourth Long-Term Charter Agreement for LNG Carrier with EDF LNG Shipping
May 06, 2022
France LNG Shipping SAS,* an NYK affiliated company, has signed a long-term charter contract for a new liquefied natural gas (LNG) carrier with EDF LNG Shipping SAS.**
The newly built LNG carrier is scheduled for delivery in 2025 from Hyundai Samho Heavy Industries Co. Ltd. This is the fourth vessel on a long-term time-charter contract with the EDF Group.
The newly built LNG carrier will be propelled by a WinGD-manufactured, dual-fuel slow-speed diesel engine. The carrier will also feature an Air Liquide-manufactured*** Turbo-Brayton refrigeration system that can tap surplus boil-off gas. Manufactured by GTT, the 174,000-cubic meter capacity membrane-type**** tank will be made of advanced insulating materials that reduce the vaporization rate.
Commenting on the signing of the fourth long-term time-charter contract with the EDF Group, NYK executive officer Hironobu Watanabe said, "We are very pleased to have signed another long-term charter contract for a new liquefied natural gas (LNG) carrier with EDF LNG Shipping SAS. This conclusion is of great significance for further promoting the NYK Group's ESG management. We will continue to provide EDF with stable LNG transportation services under our strong partnership, contributing to energy transitions around the world."
In February 2021, NYK released the "NYK Group ESG Story," which aims to further integrate ESG into the company's management strategy and promotes activities that contribute to the achievement of the SDGs through business activities. In March this year, NYK released the updated 'NYK Group ESG Story 2022," which introduces initiatives for integrating ESG into the Group's management strategies set forth in the "NYK Group ESG Story" and provides a partial explanation of the Group's sustainable growth strategy from a long-term perspective.
To strongly promote ESG management, the NYK Group is encouraging new value creation as a sustainable solution provider through a business strategy that includes the transportation of LNG, which is expected to be a low-carbon bridging fuel prior to the transition to future zero-emission fuels.
Outline of Vessel
Cargo tank capacity: about 174,000 cubic meters
Length overall: about 297 meters
Breadth: about 46.4 meters
Gross tonnage: about 118,300 tons
Main engine: X-DF diesel engine
Speed: 19.5 knots
Shipbuilder: Hyundai Samho Heavy Industries Co., Ltd.
Delivery year: 2025
The NYK Group ESG Story
A guideline detailing concrete efforts to integrate ESG into management strategies of the NYK Group. Details: https://www.nyk.com/english/news/2021/esg-story_01.html
The NYK Group ESG Story 2022
* A ship-owning company based in France and equally owned by NYK (50%) and Geogas LNG SAS (50%), a subsidiary of the Geogas Group.
** EDF LNG Shipping SAS is a subsidiary of Electricite de France (EDF) for LNG transportation.
*** The inside of the tank is covered with a nickel steel or a stainless-steel membrane to maintain low temperatures and absorb gas expansion.
**** As a global industrial and medical gas company, Air Liquide operates in 75 countries around the world, supporting businesses in diverse fields such as steel, chemicals, metal processing, food, electronics, and healthcare.
NYK Group, press release