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In the first six months of the fiscal year ending March 31, 2025, NYK’s consolidated revenues rose 12.7 percent year.on-year to 1,316.8 billion yen ($8.54 billion), while operating profit increased 17 percent to 148.4 billion yen.
NYK’s energy business, which includes the LNG carrier business, reported revenues of 91 billion yen, up 11.8 percent year-on-year, while recurring profit was almost flat at 21.8 billion yen.
According to NYK, the results for the LNG carrier business were “steady on support from the long-term contracts that generate stable earnings.”
The LNG carrier business is expected to “remain stable, backed by stable earnings from medium- to long-term contracts and new projects,” NYK said.
NYK said its fleet of operational LNG carriers stood at 89 vessels at the end of September this year.
NYK had 91 operational LNG carriers at the end of March this year and 86 operational LNG carriers at the end of September last year.
According to a presentation by NYK, its LNG carrier fleet included 76 owned or co-owned LNG carriers and 13 chartered vessels by the end of September this year.
NYK previously said it has “obtained new long-term stable contracts in the LNG carrier business and expanded the number of vessels involved to more than 120 by FY2027.”
This includes pre-delivery vessels with long-term charters.
Besides LNG carriers, NYK is expanding its fleet of “environment-friendly” vessels, including LNG-fueled vessels, LPG-fueled vessels, and methanol-fueled vessels.
According to NYK, it had 17 LNG-fueled vessels and two LNG bunkering vessels in its fleet at the end of September this year.
This includes 13 LNG-powered car carriers, two LNG-powered bulkers, and two LNG-powered shuttle tankers.
NYK previously said it plans to introduce 20 LNG-fueled PCTCs in its fleet by 2028.
The shipping firm is positioning LNG fuel as one of the bridge solutions until future zero-emission ships are realized.
It took delivery of Japan’s first LNG-powered PCTC, Sakura Leader, in October 2020, followed by the delivery of its second PCTC, Plumeria Leader, in March 2022.
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The post NYK says LNG carrier earnings remain steady appeared first on Energy News Beat.
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