NYK Concludes Long-Term Charter Agreement For New LNG Carriers With US LNG Giant Cheniere

NYK Line, in partnership with Ocean Yield AS, has signed multiple long-term charter contracts for new liquefied natural gas (LNG) carriers with Cheniere Marketing International LLP, a wholly owned subsidiary of Cheniere Energy, Inc. (“Cheniere”), a major US LNG producer.

The vessels will be built at HD Hyundai Heavy Industries Co. Ltd. in South Korea and will be delivered from 2028.

The vessels will be equipped with a next-generation X-DF2.1 iCER^*, VCR system^**, dual-fuel, low-speed diesel engine that uses fuel oil and boil-off gas (LNG vaporized in the cargo tanks during navigation) for the main engine, and a re-liquefaction system that can use surplus boil-off gas effectively. The vessels will have a 200,000 cubic meter capacity membrane-type tank^*** that uses advanced insulating materials to realize superior efficiency and economical LNG transportation.

The vessels will be the first LNG carriers NYK has chartered under a long-term time charter contract with Cheniere.

^* X-DF2.1 iCER
WinGD's low-pressure, dual-fuel main engine with excellent fuel efficiency. It is equipped with Intelligent Control by Exhaust Recycling (iCER), the latest technology that can reduce methane emissions by up to 50% and fuel consumption by up to about 3% in gas mode and about 5% in diesel mode

^** VCR system
Variable Compression Ratio (VCR) allows the adjustment of the compression ratio (CR) during operation of the engine. It can reduce fuel consumption by up to about 6 g/kWh in gas mode and about 12 g/kWh in diesel mode depending on engine type/rating.

^*** A Gaztransport & Technigaz (GTT) made tank featuring the GTT Mark III flex plus cargo containment system that has insulating materials to suppress the boil-off rate.