NYK, Oshima Working on LNG-Fueled Post-Panamax BC

Japanese duo Nippon Yusen Kabushiki Kaisha (NYK) and Oshima Shipbuilding have teamed up on designing and constructing a liquefied natural gas (LNG) powered Post-Panamax bulker.

Their research and development proposal was approved by Japan’s Ministry of Land, Infrastructure, Transport and Tourism (MLIT) as part of a campaign on introducing cutting-edge vessels that use the Internet of Things (IoT) for further safety and efficiency, and eco-friendly fuel for propulsion.

The approval is expected to accelerate the practical application of the plan, NYK said.

Under the plan, set to take four years to carry out, the duo plans to develop a vessel which will greatly reduce its environmental impact. The design aims to minimize the loss of cargo space by optimizing LNG fuel tank and accommodation arrangements.

In addition, by optimization of outfitting and piping, the construction time is expected to be reduced by 20 percent for LNG-fueled ships, which currently require more time for construction than other types of vessels.

NYK said that objective was to achieve a 30 percent reduction of Energy Efficiency Design Index (EEDI) for bulk carriers constructed after January 1, 2025.

“Recent, newly designed vessels have reduced EEDI by 20 to 30 percent, but in some conditions, it is difficult for Post-Panamax carriers to achieve greater reductions. By using environment-friendly LNG fuel that emits less CO2 than that emitted by C heavy oil, reductions can be attained before regulations commence,” NYK added.

Separately, the shipping company announced a new medium-term management plan named “Staying Ahead 2022 with Digitalization and Green”.

In order to reduce market volatily and boost profit, NYK group plans to reconfigure its business portfolio so as to secure stable-freight-rate business, with key priorities being digitalization and environmentally sustainable supply chain.

This is going to be achieved by a combination of NYK’s core competence with advanced elemental technologies in the market, the company announcement reads.

Earnings and financial targets 

Image Courtesy: NYK

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