NYK and Astomos Energy Conclude Time-charter contract for new VLGC

NYK has concluded a time-charter contract for a new VLGC (Very Large Gas Carrier; cargo tank capacity: 83,000 m3) with Astomos Energy Corporation (Astomos; head office: Tokyo; president: Tatsuhiko Yamasaki), which is the world's pre-eminent LPG (Liquefied Petroleum Gas) company.

Built by Mitsubishi Heavy Industries Ltd., the new VLGC will be delivered to Kyoei Tanker Co. Ltd in 2015 and chartered out to NYK. From its delivery, the vessel will be assigned to service designated in a new long-term contract with Astomos.

Astomos plays an important role in the LPG business field, which is expected to continue to grow, particularly as progress is made on new LNG projects in the United States and West Africa. This is the 10th VLGC for Astomos, and NYK will continue to reinforce its close, long-term relationship with the energy company. < Korea Shipping Gazette >