Nippon Yusen Kabushiki Kaisha (NYK) and Kyushu Electric Power have agreed to partner in various fields, including liquefied natural gas (LNG) transport.
The two companies have built a long-year collaboration in the energy transport field. Under the agreement, Kyushu Electric Power will consider using ships in the NYK fleet for short-term demands of LNG transport, enabling NYK to improve its profitability through efficient vessel allocation and Kyushu Electric Power to improve its flexibility in LNG transport.
NYK and Kyushu Electric Power will also consider the feasibility of cooperation in complementary businesses (e.g., LNG bunkering) involving LNG supply and marine business.
In a separate decision, NYK has assigned its LNG vessel, Grace Barleria, to a charter contract for Kyushu Electric Power from this month. For up to about 11 years, this vessel will transport LNG from various projects such as the Wheatstone LNG project in Australia.
