NYK Jointly Establishes New Ship-Management Company In Hong Kong For LNG Carriers

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  • On December 2023, NYK Line, a prominent global shipping company, jointly established OPearl LNG Ship Management Company Limited (OPearl), a new ship-management company for LNG carriers.
  • This venture was created in partnership with CMES LNG Shipping Company Limited (CMLNG), a subsidiary of China Merchants Energy Shipping Co., Ltd. (CMES), and CETS Investment Management (HK) Co., Ltd. (CETS), a subsidiary of the CNOOC Group.

A ceremony was held on April 18 to mark the opening of OPearl’s Hong Kong office. This new establishment adds to NYK’s existing ship-management companies based in Japan, Singapore, the United Kingdom, France, and Taiwan.

Management and Operations

OPearl will oversee the management of LNG carriers, including six vessels chartered to CNOOC Gas and Power Singapore Trading & Marketing Pte. Ltd. This strategic move is expected to bolster NYK’s relationships with CMLNG and CETS, aiming to contribute significantly to the stabilization of the global energy supply and the reduction of carbon emissions through reliable LNG transportation.

Key Attendees at the Unveiling Ceremony

The unveiling ceremony featured several key industry leaders:

  • Zhou Yuliang, Manager at CNOOC Energy Technology & Services-Oil-Production Services Co.CTLNG Company (CETS-CTLNG)
  • Xu Hui, President of CMLNG
  • Wang Yongxin, President of CMES
  • Masami Okubo, General Manager of NYK LNG Group

Masami Okubo, NYK LNG Group General Manager 

Okubo said, “We are delighted that the three companies have jointly established this ship-management company, and we look forward to further strengthening our relationship with CMLNG and CETS. Through OPearl, together with our partners, we will contribute to the stable transportation of LNG worldwide.”

Wang Yongxin, CMES President 

Yongxin, president of CMES expressed that OPearl has just been established, but its mission is of great importance. It marks a new phase of cooperation between CMES, NYK, and CETS and represents a significant step forward in the field of LNG. OPearl should leverage the knowledge and experience of all shareholders to continuously enhance its capabilities. The company is encouraged to view this ceremony as a new starting point. With the joint support of all parties, we will work together to build another new feat, to become a world-class shipping enterprise.

Zhou Yuliang, CETS-CTLNG Manager 

Yuliang expressed that OPearl is a beautiful pearl that combines all advantages of CMLNG, CETS, and NYK and elevates the cooperation to a higher level. With the background of decarbonization, their ships will connect the seven seas by providing LNG, and OPearl will play a significant role in LNG shipping with all shareholders’ great support.

This new venture signifies a strategic collaboration aimed at enhancing the efficiency and sustainability of LNG transportation, thereby supporting global energy stability and environmental goals.

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Source: NYK