Nippon Yusen Kabushiki Kaisha (NYK) Line has signed a memorandum of understanding (MoU) with Itochu Enex, Kyushu Electric Power Company, and Saibu Gas, to collaborate on the delivery of liquefied natural gas (LNG) as a marine fuel for vessels in western Japan.

Under the partnership, the companies will jointly study the commercialisation of an LNG bunkering business in the Setouchi and Kyushu areas of western Japan.

The partners will also be involved in marketing activities, including to Kyushu Electric Power Company for LNG-powered coal carriers, which are slated for delivery in 2023.

Furthermore, the companies will discuss prospects in connection with the construction and owning of LNG vessels needed for ship-to-ship supply.

This initiative will support the International Maritime Organization (IMO) aim to minimise greenhouse gas (GHG) emissions from shipping by at least 50% by 2050, compared with 2008 levels, and GHG emissions from vessels to zero.

As opposed to heavy fuel oil, LNG as a marine fuel can cut down sulfur oxide (SOx) emissions and particulate matter (PM) by almost 100%, nitrogen oxides (NOx) by around 80%, and carbon by nearly 30%.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Earlier this month, oil and gas firm bp and NYK Line signed an MoU to jointly work together on future fuels and transportation solutions to facilitate decarbonisation.

The firms will cooperate and identify opportunities to help the shipping industry transition from current marine fuels to green fuels, including LNG, biofuels, and methanol.

They will also work together on the development of future fuels, such as ammonia and hydrogen.

Through such collaborations, NYK Line is looking for opportunities to lead decarbonisation efforts in the maritime industry.