NYK ups LNG fleet forecast

Nippon Yusen KK, Japan’s biggest shipping company, has revised its plan to expand its fleet of LNG tankers. NYK?s initial business plan called for it to either own or have invested in the construction of about 60 LNG carriers by fiscal year 2010. It has now raised that figure to between 80 and 100 gas tankers in the light of dramatically increased demand expected from the US and other countries. Because building an LNG tanker is costly, running at about $180-270 million each, more shipping companies and LNG development firms are jointly investing in their construction. At present, Nippon Yusen has a stake in 33 LNG tankers and the firm has upgraded its plan to raise this number to 80 in fiscal 2010.