21.9 C
Tuesday, May 21, 2024
Home News NYK signed a MoU to examine LNG

NYK signed a MoU to examine LNG

NYK has signed a memorandum of understanding with Kyushu Electric Power Co., Inc. (head office: Fukuoka; president: Kazuhiro Ikebe), Saibu Gas Co., Ltd. (head office: Fukuoka; president: Toshio Sakemi), and The Chugoku Electric Power Co., Inc. (head office: Hiroshima; president & CEO: Mareshige Shimizu) for joint discussions on the commercialization of a new business to supply liquefied natural gas (LNG) as a marine fuel to ships in the Setouchi and Kyushu areas of western Japan.

The demand for LNG as a marine fuel,* a practical alternative to heavy fuel oil because of its relatively low emission of air polluting substances and greenhouse gases, is expected to increase after a global 0.5 percent sulphur cap** is introduced in 2020. Therefore, NYK and the three companies have decided to examine the commercialization of an LNG bunkering*** business in the Setouchi and Kyushu areas of western Japan.

* Compared to heavy fuel oil, the use of LNG can reduce emissions of sulfur oxides (SOx) and particulate matter (PM) by approximately 100 percent, nitrogen oxides (NOx) by as much as 80 percent, and carbon dioxide (CO2) by approximately 30 percent.

** The International Maritime Organization (IMO) will implement a global 0.5 percent sulphur cap on marine fuel from January 1, 2020.

*** LNG bunkering
Providing LNG as a marine fuel to ships for its own consumption.

Latest Posts

Booming May rates mask the looming capacity bomb

Massive increases in container shipping rates since 2 May are the consequence of Asian port congestion, US import demand, reduced Asia to Europe capacity...

Maersk and Kotahi enter second decade of New Zealand export freight partnership

Maersk and Kotahi, New Zealand’s largest container manager, have signed a second long-term freight agreement to December 2034. "An ongoing freight partnership, with Maersk, will...

Port of Los Angeles increases container volumes

Port of Los Angeles handled 770,337 container units in April, representing a 12% increase over the previous year and marking the ninth consecutive month...

SAFEEN Group debuts electric tug in Middle East

AD Ports-owned SAFEEN Group is trialling an electric tug within their Marine Services fleet, the first of its kind in the Middle East, which...

DP World introduces finished vehicle solution for Mexico-US trade

DP World has designed an industry-first solution based on using 53-foot intermodal containers with racking systems to transport finished vehicles by rail from Mexico...