Japan’s NYK taps demand for chemical tankers

Japanese shipping company Nippon Yusen Kaisha (NYK Line) plans to receive six chemical tankers from late 2026 to 2029, in anticipation of potential demand growth for petrochemical products.

NYK Stolt Tankers, the joint venture between NYK Line and Norwegian shipping firm Stolt Tankers, agreed on 5 February with Chinese shipbuilder Nantong Xiangyu Shipyard to build six 38,000 dead weight tonne stainless steel parcel chemical tankers, which can carry various petrochemical products, as well as plant oils and animal fats. The vessels will be equipped with 30 cargo tanks each.

The ships will burn very-low sulphur fuel oil but will be designed to be able to convert to use methanol as a marine fuel.

The new vessels will be incorporated into NYK Line, Stolt Tankers and Japanese shipping firm Eneos Ocean's chemical ship pooling project in Asia-Pacific. The partners launched the business in October 2023 with 13 chemical tankers to enhance petrochemical deliveries in the region.

NYK Line has attempted to strengthen its chemical shipping business. The company commissioned its third methanol-fuelled chemical tanker Grouse Sun in April 2022 to charter for Waterfront Shipping, a subsidiary of Canadian methanol producer Methanex. NYK Line also partnered with domestic petrochemical company Mitsubishi Gas Chemical and Danish shipping firm AP Moeller-Maersk to explore green methanol bunkering.

By Nanami Oki