NYK and Total enter LNG Carrier time-charter Agreement

NYK and a subsidiary of Total, Total Gas & Power Chartering Limited (TGPCL), have entered into a long-term liquified natural gas (LNG) charter agreement. Total and NYK have three existing charter contracts, this being the fourth.

The agreement specifies that TGPCL will charter a new-build LNG carrier, which Samsung Heavy Industries Co. Ltd. will build in Korea. Delivery of the vessel is expected in 2021.

The LNG carrier will be powered by a WinGD dual-fuel slow-speed diesel engine, designed to run on marine gas oil or boil-off gas. Additionally, the carrier will feature several other efficient designs, including a reliquification structure that can utilize boil-off gas and a membrane tank to reduce the amount of boil-off gas.  

NYK aims to lock in freight costs through long-term agreements while providing flexible LNG transport options to its customers.