NYK and its partners have terminated a JV company called Marine LNG Zeebrugge, which was set up to manage Gas4Sea brand for the bunkering of liquefied natural gas (LNG) fuel for ships.
The partners will transfer all shares of the exclusive vessel holding company for the LNG bunkering vessel (LBV) Engie Zeebrugge to NYK and then the holding company will become a completely owned subsidiary of NYK.
NYK has altered the name of the LBV from Engie Zeebrugge to Green Zeebrugge. It will continue to use the ship and leverage the practical expertise and technical capabilities developed through LNG bunkering operations.
In view of the expected increase in demand for LNG fuel globally, the company will start LNG fuel bunkering business under a new scheme in the future.
The NYK Group, in line with its medium-term management plan of ‘Staying Ahead 2022 with Digitalisation and Green’, has revealed its aim of integrating ESG principles into management strategies to implement green business initiatives.
The company said that it will continue to develop the LNG fuel market with regards to LNG fuel bunkering and promote the conversion of marine fuel to LNG, helping to reduce the environmental impact of the shipping industry.
In July, NYK Line and CMA CGM joined the global coalition, Hydrogen Council, to promote hydrogen to reduce the impact of climate change.