NYK, KEPCO Agree to Co-own a LNG Carrier
NYK and Kansai Electric Power Co., Inc. (KEPCO) have agreed to joint ownership of a liquefied natural gas (LNG) carrier through a vessel-owner company shared by the two companies: NYK 30 percent, KEPCO 70 percent.
The vessel is being built at the Sakaide shipyard of Kawasaki Heavy Industries Ltd. and upon completion in late 2017 will be assigned to the Cove Point LNG project in the United States to transport LNG for 20 years.
The new ship will be equipped with a dual-fuel diesel electric propulsion engine that reduces fuel consumption over that of a conventional steam turbine engine. Moreover, the vessel suppresses the boil-off rate of the LNG in the cargo tank to 0.08 percent of tank volume per day.
The co-ownership is the first between NYK and KEPCO.