NYK Jointly Establishes New Ship-Management Company in Hong Kong for LNG Carriers

Established with leading Chinese shipping company and energy company, aiming for the stable transport of energy

May 30, 2024

On December 2023, NYK jointly established OPearl LNG Ship Management Company Limited ("OPearl"), a ship-management company for LNG carriers.

OPearl was founded together with CMES LNG Shipping Company Limited ("CMLNG"), a subsidiary of China Merchants Energy Shipping Co., Ltd. ("CMES"), a leading shipping company in China, and CETS Investment Management (HK) Co., Ltd. ("CETS"), a subsidiary of the CNOOC Group, a Chinese energy company.

NYK, CMLNG, and CETS held a ceremony on April 18 to open the Hong Kong office. OPearl is NYK's sixth ship-management company for LNG carriers, complementing those based in Japan, Singapore, the United Kingdom, France, and Taiwan.

OPearl will manage LNG carriers, including six vessels will be chartered to CNOOC Gas and Power Singapore Trading & Marketing Pte. Ltd. Through OPearl, NYK seeks to deepen its relationship with CMLNG and CETS and contribute to stabilizing the world's energy supply and lowering carbon emissions through stable LNG transportation.

Comments from each company

NYK LNG Group General Manager Masami Okubo
We are delighted that the three companies have jointly established this ship-management company, and we look forward to further strengthening our relationship with CMLNG and CETS. Through OPearl, together with our partners, we will contribute to the stable transportation of LNG around the world.

CMES President Wang Yongxin
OPearl has recently been established, but its mission is of great importance. It marks a new phase of cooperation between CMES, NYK and CETS and represents a significant step forward in the field of LNG. OPearl should leverage the knowledge and experience of all shareholders complete industrial chain to continuously enhance its capabilities. The company is encouraged to view this ceremony as a new starting point. With the joint support of all parties, we will work together to build another new feat, with the goal of becoming a world-class shipping enterprise.

CETS -CTLNG Manager Zhou Yuliang
OPearl is a beautiful pearl combines all advantages of CMLNG, CETS and NYK and rises three parties cooperation into a higher level. With the background of decarbonization, our ships will connect seven seas by providing LNG and Opearl will play significant role in LNG shipping with all shareholders' great support.

Unveiling ceremony.   Image by NYK.

From left, second, Zhou Yuliang, CNOOC Energy Technology & Services-Oil-Production Services Co.CTLNG Company(CETS-CTLNG) Manager; third, Xu Hui, CMLNG President; fifth, Wang Yongxin, CMES President; sixth, Masami Okubo, NYK LNG Group General Manager.   Image by NYK.

Company Profile

NYK Line
Business: Comprehensive logistics
Headquarters: Tokyo, Japan
Website: www.nyk.com/english/

China Merchants Energy Shipping Co., Ltd (CMES)
Business: Shipping company (a group company of China Merchants Bureau Group)
Headquarters: Hong Kong, China
Website: www.cmenergyshipping.com

China National Offshore Oil Corporation (CNOOC)
Business: State-owned oil company and one of China's largest LNG purchasers
Headquarters: Beijing, China
Website: www.cnoocltd.com

OPearl LNG Ship Management Company Limited
Business: Ship management
Headquarters: Hong Kong, China

NYK Group, press release