Kawasaki Kisen Kaisha, Ltd. (“K” Line), Chubu Electric Power Co., Inc. (Chubu Electric Power), Toyota Tsusho Corporation (Toyota Tsusho), and Nippon Yusen Kabushiki Kaisha (NYK Line) jointly announce that the four companies have agreed to launch the LNG Bunkering business in Japan and have established two joint ventures.
LNG is expected to become an important alternative to heavy fuel oil due to its low emission rate of air polluting substances and greenhouse gases, which will enable ships to meet increasingly stringent international regulations on emissions.
As per the announcement on January 26, 2018, the four companies have been in joint discussions on the commercialization of LNG Bunkering Business in the Chubu (central region) of Japan. The four companies have now agreed to launch the business, and established two joint ventures to run the LNG Bunkering Business. Going forward, each of the four companies will utilize the expertise and strengths that they each possess to propel the “Ship-to-Ship Bunkering” business.