NYK Line and Partners Set Up Second LNG Bunkering Project
NYK Line has signed a memorandum of understanding with Kyushu Electric Power, Saibu Gas, and The Chugoku Electric Power for joint discussions on the commercialization of a new business to supply liquefied natural gas (LNG) as a marine fuel to ships in the Setouchi and Kyushu areas of western Japan.
This is the second LNG bunkering project NYK Line is engaged in after investing in an LNG bunkering vessel with "K" Line, Chubu Electric, and Toyota Tsusho Corporation.
"The demand for LNG as a marine fuel, a practical alternative to heavy fuel oil because of its relatively low emission of air polluting substances and greenhouse gases, is expected to increase after a global 0.5 percent sulphur cap is introduced in 2020. Therefore, NYK and the three companies have decided to examine the commercialization of an LNG bunkering business in the Setouchi and Kyushu areas of western Japan," said a press release from NYK.
Compared to heavy fuel oil, the use of LNG can reduce emissions of sulfur oxides (SOx) and particulate matter (PM) by approximately 100 percent, nitrogen oxides (NOx) by as much as 80 percent, and carbon dioxide (CO2) by approximately 30 percent.
The International Maritime Organization (IMO) will implement a global 0.5 percent sulphur cap on marine fuel from January 1, 2020.