NYK has concluded a long-term time-charter contract for LNG transportation with China Petroleum & Chemical Corporation ("SINOPEC"), a public energy company in China.　This is the third conclusion of time-charter contracts with energy companies based in China.

The contract is for the transport of LNG to China for up to 23 years, beginning in 2024 or later. China has declared its intent to be carbon neutral by 2060, and this time-charter contract will support China's energy transition toward carbon neutrality.

NYK will build a good partnership with SINOPEC through stable transportation and contribute to the global energy transition from coal to natural gas.

On March 10, 2023, the NYK Group released its medium-term management plan “Sail Green, Drive Transformations 2026 - A Passion for Planetary Wellbeing. ” The NYK Group is promoting growth strategies with ESG at the core, based on the Group’s mission statement of “Bringing value to life” and a new corporate vision for 2030, which reads, “we go beyond the scope of a comprehensive global logistics enterprise to co-create value required for the future by advancing our core business and growing new ones.”