Nippon Yusen Kabushiki Kaisha : NYK Secures Time Charter Contract with SINOPEC for LNG Transportation
December 07, 2023 at 02:09 am
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Dec. 07, 2023
Aiding China's Energy Transition toward Carbon Neutrality
NYK has concluded a long-term time-charter contract for LNG transportation with China Petroleum & Chemical Corporation ("SINOPEC"), a public energy company in China. This is the third conclusion of time-charter contracts with energy companies based in China.
The contract is for the transport of LNG to China for up to 23 years, beginning in 2024 or later. China has declared its intent to be carbon neutral by 2060, and this time-charter contract will support China's energy transition toward carbon neutrality.
NYK will build a good partnership with SINOPEC through stable transportation and contribute to the global energy transition from coal to natural gas.
On March 10, 2023, the NYK Group released its medium-term management plan "Sail Green, Drive Transformations 2026 - A Passion for Planetary Wellbeing. " The NYK Group is promoting growth strategies with ESG at the core, based on the Group's mission statement of "Bringing value to life" and a new corporate vision for 2030, which reads, "we go beyond the scope of a comprehensive global logistics enterprise to co-create value required for the future by advancing our core business and growing new ones."
Related Sustainable Development Goals (SDGs)
Related Press Release
May 02, 2022_NYK Signs Long-Term Charter with CNOOC for Six New LNG Carrier
News Releases 2023
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Nippon Yusen KK published this content on 07 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 December 2023 02:07:42 UTC.
Nippon Yusen Kabushiki Kaisha (NYK Line) is one of the world's largest transport and logistics services providers. Net sales break down by activity as follows:
- bulk sea transport (42.7%): dry bulk, vehicles, oil products transport, etc.;
- containers sea transport (37.1%). The group also develops a containers terminals operation activity;
- logistics services (8.2%): storage, warehousing, delivery services, etc.;
- freight air transport (7.8%);
- other (4.2%): primarily real estate management, ships maintenance and repair.
At the end of March 2022, the group had a fleet of 658 vessels.
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