Nippon Yusen Kaisha (NYK) of Japan has signed up for joint ownership of a liquefied natural gas (LNG) carrier with compatriot Kansai Electric Power Co (KEPCO) through a vessel-owner company shared by the two companies. NYK will hold 30% in the new company, with KEPCO holding the majority 70%.

The vessel is being built at the Sakaide shipyard of Kawasaki Heavy Industries and upon completion in December next year will be assigned to the Cove Point LNG project in the US to transport LNG for 20 years.

The new 177,000cbm Moss-type ship will be equipped with a dual-fuel diesel electric propulsion engine. What's more, the vessel suppresses the boil-off rate of the LNG in the cargo tank to 0.08% of tank volume per day, what NYK claims is the world's lowest level.