Asia/Pacific News
Toyota Sparks Japanese Carrier Negotiations for Order of 20 LNG-Powered Newbuilds: Media Reports
Japanese car manufacturer Toyota Motor Corporation's (Toyota's) push to utilise liquefied natural gas (LNG)-powered ships to transport its cars around the world has prompted carriers Nippon Yusen Kabushiki Kaisha (NYK Line), Kawasaki Kisen Kaisha, Ltd. (K Line), and Toyofuji Shipping Co. Ltd (Toyofuji) to begin negotiations to order 20 LNG-powered car carriers, Nikkei Asian Review reports.
The ordering spree is expected to be valued at approximately ¥200 billion ($1.81 billion).
Toyota's actions, which come in preparation for tighter global sulfur regulations on bunker fuel in 2020, are expected to encourage other automakers to act as well.
The newbuilds are set to replace around 20 7,000-vehicle capacity vessels that operate mostly on North American routes.
NYK, K Line, and Toyofuji are reported to be aiming to contract three to six vessels each to start.
Last year, Ship & Bunker reported that United European Car Carriers (UECC), a joint venture between NYK and Wallenius Lines, had taken delivery of the world's first LNG-fuelled Pure Car and Truck Carrier from Kawasaki Heavy Industries Ltd. (Kawasaki).
