Mitsubishi Ups Charter from NYK for US/Canada
Japanese shipowner NYK Line said December 11 that a subsidiary of Japan's Mitsubishi Corporation has signed long-term charters for three newbuild LNG carriers from NYK.
Singapore-based Diamond Gas International, wholly-owned by Mitsubishi, will use the carriers due for delivery in 2020-21 primarily to lift North American LNG.
As NYK previously concluded charters for three new LNG vessels, the latest contracts will take the total number of carriers chartered to Mitsubishi to six.
The earlier three carriers will lift from the Sempra-led Cameron LNG venture in the US Gulf, in which both Mitsubishi and NYK (through their Japan LNG Investment joint venture) have equity. So too will the first of the latest orders, the ship for delivery in 2020, on a charter lasting 18 years (the banner photo shows an illustration of the newbuild, courtesy of NYK).
The other two recent orders, for delivery in 2021, are chartered for about 17 years during which they will lift from the Shell-led LNG Canada project in western Canada, in which Mitsubishi also has a 15% stake and which took final investment decision October 2. All three recently ordered newbuilds though may also lift from other locations around the world, said NYK.
Cargo size on each of the three latest orders will be 174,000m3, and the carriers will also feature a reliquefaction system, while their propulsion will use either marine gasoil or boil-off gas. They will be built by South Korean shipyard Hyundai Samho Heavy Industries and have a speed of up to 19.5 knots.
A Mitsubishi joint venture with NYK took delivery July 2018 of a Japanese-built LNG carrier that is expected to be used to lift cargoes from Cameron LNG. All three trains at Cameron LNG are now expected to open by the end of 2019. In contrast LNG Canada has an estimated start-up date of 2024.