A joint venture between Japanese shipping and logistics company Nippon Yusen Kaisha (NYK Line) and Malaysia’s MISC Group (MISC), a member of the Petronas Group of Companies, has signed a long-term time-charter contract with Malaysia LNG Sdn. Bhd. for a new LNG carrier.
The joint venture Asia LNG Transport Sdn. Bhd. (ALT) will take delivery of the 18,700 m³ vessel in 2028.
Built by Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. in China, the dual-fuel diesel electric vessel will be deployed in LNG transportation services to Japan.
MISC said the company, via its subsidiary, namely Asia LNG Transport Sdn Bhd, entered into a TCP with MLNG for the charter of one newbuild 18,700 cbm LNGC for a firm period of ten years, with commencement expected in 2028.
ALT is a joint venture company between MISC and Tokyo-headquartered Nippon Yusen Kaisha, in which MISC holds 51% indirect equity interest.
ALT was established on February 23, 1987, in Malaysia. Its principal business is owning and operating LNG carriers for the transportation of LNG. The company owns the LNG carrier, Aman Sendai, which has been serving the Bintulu-Sendai trade route since 1998.
On the other hand, NYK operates a global fleet and provides transportation and logistics services across container shipping, bulk and energy transportation, automotive logistics, terminals, and supply chain management.
Representatives from MLNG, MISC, and NYK attended a signing ceremony held in Tokyo on October 9.
Hironobu Watanabe, NYK senior managing executive officer, commented: “We are very pleased to have concluded this charter agreement. Together with MLNG, MISC, and our other partners, we will strive to provide safe and reliable LNG transportation services and contribute to the stable supply of energy to Japan.”
