NYK, Mitsui secure charter contract with CPC for LNG carriers
NYK and Mitsui & Co. Ltd. have secured a long-term charter contract for four 145,000 cubic-meter Moss-type liquefied natural gas (LNG) carriers with Chinese Petroleum Corp., the largest state-controlled petroleum company in Taiwan.
Kawasaki Shipbuilding Corp. and Mitsubishi Heavy Industries Ltd. will build two carriers each. Following approval from the Chinese government, CPC will subscribe for 45 percent of shares of the ship-management company that NYK will establish.
The charter contract is due to start either 2009 or 2010 for a period of 23 to 24 years with an option for a five-year extension. It is based on a previous LNG sale and purchase contract between CPC and Qatar-based RasGas II, which will see CPC transport 3 million tons of LNG per year over a period of 25 years from Qatar to Taiwan.