Japan’s Nippon Yusen Kaisha (NYK), one of the largest shipping companies in the world, said it aims to invest JPY530bn (approximately $5.13bn) in LNG and the offshore business over the next five years.
NYK said in the company’s new medium-term management plan that it “ realizes strong business portfolio against changing market conditions by utilizing business chances such as LNG (liquefied natural gas) transportation and offshore business, and strengthens financial ground which enables large-scale investment, and sets out NYK Group’s sustainable growth. ”
The company plans to expand its fleet of LNG tankers from 67 at present, including jointly owned vessels, to 100 by 2019.
NYK is also looking to develop a new business related to LNG as a fuel for ships.
[mappress] LNG World News Staff, April 1, 2014; Image: NYK