NYK secures Unipec LNG charter

Japanese shipping major Nippon Yusen Kaisha (NYK) has fixed a four and a half year time charter deal for one of its LNG carriers to China’s Unipec, starting in February next year. No price for the deal has been revealed.

The 149,700 cu m Grace Acacia will be used in the charter and marks a new stategy for NYK in targeting more gas contracts out of neighbour, China, something NYK’s rival Mitsui OSK Lines (MOL) has gained an early mover advantage.

NYK has big plans to grow LNG revenues. It is already one of the world’s largest operators of LNG carriers, with 74 units plus eight on order and plans to grow the fleet to 100 ships by 2022.

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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