Japanese shipping powerhouse Nippon Yusen Kaisha (NYK) has partnered with fellow Itochu Enex, Sibu Gas and Kyushu Electric Power to examine the possibility of establishing a new liquefied natural gas (LNG) bunkering business in western Japan.
A memorandum of understanding signed between the four companies will see them work on the supply of LNG as a marine fuel in the Setouchi and Kyushu areas, marketing activities to consumers such as Kyushu Electric Power for its LNG-fueled coal carriers set to deliver in fiscal 2023 and construction and owning of LNG bunker vessels.
NYK said that LNG as a marine fuel is expected to be a bridging solution to next-generation zero-emission fuels such as hydrogen and ammonia.
Earlier this year, the company splashed around $912m on 12 LNG-fuelled car carriers to deliver from 2025 to 2028. This month, NYK joined forces with London-based supermajor BP to collaborate on future fuels and transportation solutions to help industrial sectors, including shipping, decarbonise.
