On August 16, NYK and TB Global Technologies Ltd. (TBG), Japan's top manufacturer of cargo handling equipment for crude oil, liquefied natural gas (LNG), and other liquids, signed a basic agreement to jointly develop Japan's first bunkering boom for ammonia, a device used to supply ammonia fuel between ships. NYK and TBG will significantly enhance the safety of supplying ammonia, which is highly toxic, to ships by employing TBG's technology to ensure that the liquid does not leak. Ammonia is expected to contribute to the decarbonization of ships because it does not emit CO2 when burned, according to the company's release.
TBG will receive from NYK data related to the development of its ammonia bunkering vessel (ABV), which received Approval in Principle (AiP) from ClassNK in September 2022. NYK will also share with TBG the knowledge gained from Japan’s first LNG bunkering vessel, Kaguya, which is operated by Central LNG Marine Fuel Japan Corporation, an NYK affiliate.
A bunkering boom is a device consisting of rigid pipes and hoses that connect a bunkering vessel to the other vessel to supply fuel. It is highly durable because it is made of rigid pipe, and its swivel joints allow it to change direction freely, making it easy to operate. In this joint development, the two companies will employ TBG's technology to prevent the liquid inside from leaking out when the bunkering boom is emergently released from a ship due to a natural disaster, thereby tackling the biggest challenge in ammonia fuel supply, i.e., preventing leakage.
NYK has launched its new NYK GREEN EARTH brand to emphasize NYK's ESG efforts to create new value initiatives for low carbon and decarbonization through green businesses such as the development of next-generation fuels.
On March 10, 2023, the NYK Group released its medium-term management plan “Sail Green, Drive Transformations 2026 — A Passion for Planetary Wellbeing. ”