NYK and Ocean Yield to Co-Invest in Four New LNG Carriers from HD Hyundai

Nippon Yusen Kaisha (NYK) has signed a deal with Ocean Yield to co-invest in four new LNG carriers at HD Hyundai Heavy Industries. Each vessel will have a capacity of 200,000 cu m, with options for four additional units.

Ocean Yield will hold a 50% ownership stake, and deliveries are expected in 2028 and 2029. The vessels are anticipated to be chartered to an investment-grade energy company, likely Cheniere, upon delivery.

The deal may contribute approximately $600 million to Ocean Yield's EBITDA backlog and includes extension options that could increase the investment to eight ships. This partnership builds on previous collaborations between NYK and Ocean Yield, enhancing Ocean Yield's LNG shipping portfolio, which includes a stake in a joint venture controlling 12 LNG carriers.