NYK strikes long-term LNG charter deal with Sinopec

Japanese shipowner Nippon Yusen Kaisha (NYK) has landed a long-term LNG charter deal with China Petroleum & Chemical Corporation (Sinopec).

The contract will see NYK ship LNG to China for up to 23 years, beginning in 2024 or later. No further details have been disclosed.

Sinopec has been working to secure vessels to facilitate the shipment of liquefied natural gas volumes with several import deals in place including the US and Qatar.

The latest deal for NYK will be the company’s third time-charter with energy companies based in China. Last year, China National Offshore Oil Corporation (CNOOC) fixed NYK’s six LNG carriers to be built at CSSC Hudong-Zhonghua Shipbuilding.