Japanese giant Nippon Yusen Kaisha (NYK Line), together with Norwegian ship owning company Ocean Yield AS, has signed multiple long-term charter contracts for new liquefied natural gas (LNG) carriers with Cheniere Marketing International LLP, a wholly owned subsidiary of Cheniere Energy, a major US LNG producer.

The 200,000 cubic meters units will be built at HD Hyundai Heavy Industries in South Korea, with deliveries scheduled from 2028. The vessels will be the first LNG carriers NYK has chartered under a long-term time charter contract with Cheniere.

As Shipping Telegraph reported on Dec. 22, Ocean Yield agreed to co-invest alongside NYK Line in four LNG carriers to be built in Korea with deliveries in 2028 and 2029.

Ocean Yield said both parties will have an ownership interest of around 50% in the vessels. Upon delivery, each vessel will commence long-term time charters.

The charterer may exercise extension options to extend the charter duration. The charterer is also granted options that may increase the size of the investment to eight vessels.

Andreas Røde, chief executive officer of Ocean Yield, said in a comment: “We are pleased to expand the partnership with NYK Line through this landmark transaction. Ocean Yield has over the last few years strategically entered the LNG segment, a sector that fits our investment mandate well with its infrastructure-like characteristics and long-term charters to strong counterparties.”