NYK Concludes Charter Agreement for LNG Carrier with Osaka Gas International Transport Inc.
Sep. 07, 2022
On September 6, NYK signed a multi-year time charter contract with Osaka Gas International Transport Inc. (President: Takenori Fujita, Head office: Osaka),* a Daigas Group company, for a new liquefied natural gas (LNG) carrier.
This vessel, named "Grace Freesia", comes 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 carrier also features a re-liquefaction system that can use surplus boil-off gas efficiently. The cargo tank is a 174,000 cubic meter capacity membrane-type tank** that makes use of advanced insulating materials to suppress the boil-off rate (percentage of gas volume that vaporizes during navigation) in the cargo tank and realizes significantly more efficient, economical, and environmentally friendly operation.
By utilizing its experience and network cultivated as a world-scale LNG-carrier owning-and-managing company, NYK is contributing to Japan's stable energy supply.
Length overall: 297.160 meters
Breadth: 46.40 meters
Cargo tank capacity: 173,956 m3
Main engine: X-DF engine
Shipbuilder: Hyundai Samho Heavy Industries Co., Ltd.
LNG carrier "Grace Freesia". Image by NYK.
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, NYK will continue to create new value as a sustainable solution provider.
To strongly promote ESG management, the NYK Group will encourage 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.
* Osaka Gas International Transport Inc. is a wholly owned subsidiary of Daigas Group, Incorporated.
** The inside of the tank is covered with a nickel steel or a stainless-steel membrane to maintain low temperatures and absorb gas expansion.
NYK Group, press release