Nippon Yusen Kaisha (NYK) has concluded another time-charter contract for a new VLGC with Astomos Energy Corporation, the giant Japanese LPG firm.
The new VLGC will be built by Mitsubishi Heavy Industries and delivered in the fourth quarter of 2018. After delivery, the ship will be assigned to a service designated in a five-year time-charter contract, and NYK and Astomos will then have 12 VLGCs in operation under time-charter contracts.
Astomos is looking to increase LPG handling volume from the current 10m tons a year to 12m by 2017.