Ocean Yield and NYK Line Expand LNG Partnership With Newbuild Carrier Investment

Norwegian shipowner Ocean Yield and Japan’s Nippon Yusen Kabushiki Kaisha (NYK Line) have strengthened their strategic partnership by agreeing to jointly invest in a new series of liquefied natural gas (LNG) carriers. The collaboration reflects growing confidence in the LNG shipping sector, underpinned by long-term charters and strong counterparty fundamentals, while also offering potential upside through fleet expansion.

Joint Investment in Next-Generation LNG Carriers

Ocean Yield and NYK Line will co-invest in four LNG carriers that are yet to be constructed in South Korea, with scheduled deliveries in 2028 and 2029. Each company will hold an ownership stake of approximately 50% in the vessels. Upon delivery, the ships will enter long-term time charters with an undisclosed, investment-grade major energy company, ensuring stable and predictable cash flows. The transaction remains subject to customary closing conditions.

Growth Potential and Strategic Fit

The deal is expected to add around USD 600 million to Ocean Yield’s EBITDA backlog, highlighting the long-term value of the investment. Importantly, the charterer holds options that could extend charter durations and potentially double the investment to eight LNG carriers. According to Ocean Yield CEO Andreas Røde, the LNG segment aligns well with the company’s infrastructure-focused investment strategy, benefiting from resilient demand and strong counterparties. The move also builds on Ocean Yield’s recent LNG-focused activity, including its planned acquisition of CapeOmega with KKR and its purchase of Access Capital Partners’ stake in Geogas LNG.

The joint LNG carrier investment marks a significant milestone in the evolving partnership between Ocean Yield and NYK Line. By combining long-term charters, shared ownership, and expansion options, the deal strengthens both companies’ positions in the global LNG shipping market while reinforcing confidence in LNG as a key energy transition fuel.