NYK, Knutsen Announce LNG Tanker JV

Further to the strategic and long-term partnership between Nippon Yusen Kaisha ("NYK," headquartered in Tokyo) and the Knutsen Group / TS Shipping Invest AS ("TSSI," headquartered in Norway) with respect to the Knutsen NYK joint venture shuttle tanker business ("KNOT"), the partners are pleased to announce that they have concluded joint investment and financing arrangements on a 50:50 basis for two new 176,000 m3 ME-GI LNG tanker vessels that will be chartered to Spanish energy company Gas Natural on a 20-year plus basis from their delivery built in Hyundai Heavy Industries Co. Ltd. in the second half of 2016.

Sumitomo Mitsui Banking Corporation Europe Ltd. acted as structuring bank and book-runner for the financing arrangements with finance provided by Sumitomo Mitsui Banking Corporation Europe Ltd., BNP Paribas, Caixabank S.A., Crédit Industriel et Commercial, and the London branch of Société Générale.
 
NYK will continue its efforts for stable, economical transport of LNG, which is increasing in demand throughout the world.

 Outline of LNG Carrier