Two joint-venture companies that NYK has established with Chubu Electric Power Co. Inc. each concluded a time-charter contract for a new liquefied natural gas (LNG) carrier with Chubu Electric Power Co. Inc.

In addition, one of the joint-venture companies, Trans Pacific Shipping 6 Limited, concluded a shipbuilding contract with MI LNG Company Limited, and other joint-venture company, Trans Pacific Shipping 7 Limited, concluded a shipbuilding contract with Kawasaki Heavy Industries Ltd.

These new ships will be managed by NYK after being delivered in 2018 and assigned to transport LNG for a 20-year period from the Freeport LNG Project, in which Chubu Electric Power Co. Inc. has an equity interest.

In accordance with its More Than Shipping 2018 medium-term management plan, NYK will continue its efforts to be a part of stable and economical LNG transport.