Russian Oil Tankers Search for New Flags to Hide From Sanctions
A chunk of Russia’s oil tanker fleet is being forced to change the flag they sail under as US and UK sanctions heap pressure on Moscow’s shipping network.
Japanese shipping company NYK has announced plans to build a dozen LNG-fueled pure car and truck carriers (PCTCs) with deliveries starting in 2025.
The company revealed Tuesday it has entered into a memorandum of understanding (MoU) Shin Kurushima Dockyard Co., Ltd. and Nihon Shipyard Co., Ltd for the consecutive building of the vessels split equally between the two shipyards.
Deliveries are planned successively from fiscal 2025 to fiscal 2028.
NYK says the the plans are in-line with its fleet replenishment and environment management target of reducing CO2 emissions per ton-kilometer of transport by 50% by 2050. The use of LNG fuel, in addition to hull modifications, will contribute to a reduction of fuel CO2 emissions by approximately 40% compared to ships using conventional heavy fuel oil.
NYK’s automotive transportation division has been promoting LNG fuel for its PCTCs, starting with the delivery of the LNG-fuelled Sakura Leader in 2020. The company already has firm plans to launch eight LNG-fueled PCTCs by 2024.
With today’s announcement, the number grows to 20 LNG-fueled PCTCs by fiscal 2028 and a total investment of about 200 billion yen. NYK says it also has plans for vessels to run on hydrogen and ammonia beginning around 2030.
The 12 vessels announced today will each measure just under 200 meters in length and have a total car capacity of between 6,800 and 7,000 units.
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