NYK and Ocean Yield expand LNG carrier series to eight ships

Japan’s Nippon Yusen Kaisha (NYK) and Norwegian shipleasing specialist Ocean Yield have bolstered their LNG carrier programme after declaring options for additional newbuildings to serve long-term charters with Cheniere Energy.

The partners have doubled their orderbook at HD Hyundai Heavy Industries to eight large LNG carriers after options covering four ships were exercised on substantially similar terms to the original contracts.

The newbuildings, each with a capacity of about 200,000 cu m, are backed by long-term charter agreements with Cheniere Marketing International, a unit of Cheniere Energy.

NYK and Ocean Yield first unveiled the LNG carrier programme late last year, ordering four ships with options for an additional four units. The vessels were positioned for multi-year employment with Cheniere, with the charter arrangements confirmed in February.

The expansion marks a further deepening of ties between the partners and Cheniere, while for NYK, the agreement represents its first long-term LNG carrier charter deal with the US producer.