NYK has signed a memorandum of understanding with three compatriots for joint commercialization a new business to supply LNG as a marine fuel to ships in the Setouchi and Kyushu areas of western Japan.
NYK agreed to partner up with Kyushu Electric Power, Saibu Gas, and the Chugoku Electric Power on the project.
The demand for LNG as a marine fuel 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.