Japanese shipping giant Nippon Yusen Kaisha (NYK Line) signed a charter contract with China’s Unipec, the trading arm of state oil major Sinopec, for a 149,700-cbm LNG carrier.

NYK will charter the 2007-built Grace Acacia to Unipec for four-and-a-half years starting in February 2019.

Chinese LNG imports have been rising steadily as the country is pursuing its plan to cut addiction to coal to reduce pollution. The country last year overtook South Korea as the world’s second-largest LNG importer.

NYK plans to secure more LNG carrier deals with China as it is also pursuing its strategy to reach 100 owned and co-owned LNG carriers in its fleet by 2022. The shipping giant currently operates a fleet of 74 LNG vessels.

LNG World News Staff