NYK, K Line, MISC and China LNG win next tranche of Qatari gas carrier business

A quartet of Asian shipping powerhouses have won the next tranche of business in the huge QatarEnergy fleet expansion project.

A consortium comprising Nippon Yusen Kaisha (NYK) and Kawasaki Kisen Kaisha (K Line) from Japan, Malaysia’s MISC and China LNG Shipping, the Cosco/China Merchants joint venture, have ordered seven 174,000 cu m LNG carriers at Hyundai Heavy Industries in South Korea.

The ships, which add a further $1.5bn to Hyundai Heavy’s swelling orderbook, will deliver in 2025 and 2026 and go on long-term charter to QatarEnergy, a state-run company that has reserved many newbuild slots at yards in China and Korea to carry out a significant fleet expansion.