LNG carrier joint venture

26 Mar 2013
The 'Sayaendo' - MHI's new generation LNG carrier

The 'Sayaendo' - MHI's new generation LNG carrier

Mitsubishi Heavy Industries Ltd (MHI) and Imabari Shipbuilding Co Ltd have formed a joint venture called MI LNG Co Ltd to handle the design and marketing of new liquefied natural gas (LNG) vessels.

The new joint venture will see the two companies collaborate to prepare a structure capable of responding to large scale carrier construction projects – which are expected to grow in tandem with the demand for LNG.

MI LNG Co Ltd will have its new headquarters in Tokyo. MHI will own 51% of equity with Imabari holding the remaining 49%. Orders and designs will be dealt with at the new headquarters with ship construction taking place at MHI’s Nagasaki yard or Imabari Shipping.

MHI says that this will enable the new joint venture to secure a collective shipbuilding capacity of eight LNG carriers per year. It will also be able to offer the Sayaendo - a new generation LNG carrier developed by MHI as a high value added vessel evolved from Moss type carriers but with greater enhanced energy savings and operability.

The new venture stems back to May 2012 when MHI agreed to collaborate with Imabari Shipbuilding on container carrier technology.

In October last year, the two companies received an order for two highly energy efficient, next generation pure car and truck carriers from Nippon Yusen Kabushiki Kaisha (NYK Line).

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