NYK and K Line conclude VLGC charters with Astomos

Tokyo: NYK and K Line have concluded time-charter contracts for new VLGCs with fellow Japanese firm, Astomos Energy Corporation.

NYK’s new VLGC will be built by Mitsubishi Heavy Industries and delivered in the second quarter of 2017. NYK will charter the vessel from Kyoei Tanker, and from its delivery, the vessel will be assigned to a service designated in a five-year time-charter contract with Astomos.

K Line, meanwhile, has tapped Kawasaki Heavy Industries to build an 82,200 cu m VLGC to go on charter to Astomos.
Astomos’ new medium-term plan, which starts from fiscal 2015, calls for an increase in LPG handling volume from the current 10m tons a year to 12m tons a year by 2017. Astomos was created via the merger of Idemitsu Kosan and Mitsubishi Corporation’s LPG businesses.

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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