NYK Concludes Long-term Contract for a New Eco-friendly Wood-chip Carrier

March 1, 2019

NYK has concluded a long-term contract with Mitsubishi Paper Mills Limited for a new wood-chip carrier to be built by Oshima Shipbuilding Co. Ltd. The ship will be able to load 4.3 million cubic feet of wood chips and will contain the following features of an advanced eco-ship:

• The latest design that will allow the vessel to perform well in all types of weather while ensuring low water resistance and high efficiency

• Energy-saving equipment that will lower fuel consumption considerably compared with conventional vessels

• Equipment that complies with SOx (sulfur oxide) emission regulations*

NYK currently has four long-term contracts with Mitsubishi Paper Mills Limited — the largest share of contracts that any shipping company has with Mitsubishi Paper Mills Limited — and this contract will allow the two companies to enhance their eco-friendly transport.

In accordance with its medium-term management plan “Staying Ahead 2022 with Digitalization and Green,” the NYK Group seeks to secure stable freight rates through long-term contracts and continue its efforts to contribute to stable and economical transport of energy resources.

* The International Maritime Organization’s regulations requiring a global 0.5 percent cap on sulphur content in marine fuels starting in 2020.

About a new wood-chip carrier
Length Overall: about 210 meters
Breadth: about 37 meters
Deadweight Tonnage: about 59,900 metric tons
Cargo tank capacity: about 4,300,000 cubic feet
Builder: Oshima Shipbuilding Co. Ltd.
Delivery: 2021

Mitsubishi Paper Mills Limited
Head Office: Tokyo
President: Kunio Suzuki
Website: https://www.mpm.co.jp/eng/index.html

NYK Group, press release