NYK charters six LNG vessels to CNOOC

Nippon Yusen Kabushiki Kaisha (NYK) plans to take delivery of a host of LNG-fuelled vessels towards 2030 and then gradually diversify to vessels powered by ammonia and methanol to reach its net-zero emission target by 2050.

PHOTO: Proposed design of CNOOC's LNG carrier. NYK

The Japanese shipowner has signed a long-term charter contract with China National Offshore Oil Corporation’s (CNOOC) Singapore arm for six LNG carriers to be delivered in 2026 and 2027.

NYK plans to build and own a total of 45 LNG-fuelled vessels in short term, and proposes to convert them to be powered by low-emission fuels such as biogas and synthetic methane in the future.

It also four methanol-fuelled ships and two ammonia-fuelled ships under development. One of the ammonia-fuelled ships will be ocean-going and expected to come into operation in 2026.

LNG can curb carbon dioxide emissions by about a quarter compared to conventional bunker fuels. But its methane emissions can be 36 times more potent as a greenhouse gas compared to carbon dioxide over a century, according to a World Bank study.