NYK concludes time-charter contracts for two new LNG carriers for Freeport LNG Project

Two joint-venture companies that NYK has established with Chubu Electric Power Co. Inc. each concluded a time-charter contract for a new liquefied natural gas (LNG) carrier with Chubu Electric Power Co. Inc.
 
In addition, one of the joint-venture companies, Trans Pacific Shipping 6 Limited, concluded a shipbuilding contract with MI LNG Company Limited, and other joint-venture company, Trans Pacific Shipping 7 Limited, concluded a shipbuilding contract with Kawasaki Heavy Industries Ltd.
 
These new ships will be managed by NYK after being delivered in 2018 and assigned to transport LNG for a 20-year period from the Freeport LNG Project, in which Chubu Electric Power Co. Inc. has an equity interest.
 
In accordance with its “More Than Shipping 2018” medium-term management plan, NYK will continue its efforts to be a part of stable and economical LNG transport.
 
A joint venture established in April 2013 by Mitsubishi Heavy Industries Ltd. (equity ownership 51%) and Imabari Shipbuilding Co. Ltd. (49%) for designing and marketing new LNG carriers.