“K” Line, Chubu Electric Power, Toyota Tsusho and NYK Line have jointly announced that they have agreed to launch LNG bunkering business in Japan and have established two joint ventures.
LNG is expected to become an important alternative to heavy fuel oil due to its low emission rate of air polluting substances and greenhouse gases, which will enable ships to meet the increasingly stringent international regulations on emissions.
The four companies had been in joint discussions on the commercialisation of LNG bunkering business in the Chubu (central region) of Japan. They have now agreed to launch the business and on Thursday established two joint ventures to run it. Going forward, each of the four companies will utilise the expertise and strengths they possess to propel the “ship-to-ship bunkering” business, said a release.