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    Japan's JFE Steel charters three LNG-fuelled bulk carriers

Summary

The steel producer will use the vessels to transport iron ore and coal.

by: Shardul Sharma

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Complimentary, NGW News Alert, Liquefied Natural Gas (LNG), Corporate, Investments, Gas for Transport, News By Country, Japan

Japan's JFE Steel charters three LNG-fuelled bulk carriers

Japanese steel producer JFE Steel Corp has signed long-term deals with shipping firms NYK Line, K-Line and Mitsui OSK Lines to charter three 210,000 dwt LNG-fuelled bulk carriers, it said on July 20. JFE will use the vessels to transport iron ore and coal.

The ships, which have been designed by Nihon Shipyard and will be built by Japan Marine United and Imabari Shipbuilding, are likely to be delivered between 2024 and 2025. Each ship will have an overall length of less than 300 m, beam of up to 50 m, freeboard of up to 25 m and draft of up to 18.4m.

“JFE Steel’s shift to LNG-powered transportation will support global efforts to create a more carbon-neutral world by reducing greenhouse gas emissions generated during international shipping,” the company said.

JFE Steel said it also plans to consider using zero-emission ships powered by other eco-friendly fuels such as ammonia and carbon-recycling methane. JFE Steel earlier this year said it plans to become carbon neutral by 2050.