NYK and Astomos sign for twelfth VLGC

NYK and Astomos sign for twelfth VLGC

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.

 

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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