NYK looks to set up LNG bunkering business in western Japan

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.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
Back to top button