Cargo Business Newswire

Tuesday, February 18, 2014

NYK ships more Middle East crude to Thailand

NYK has continued its contract with Thai Oil, and will be shipping oil from the Middle East to Thailand via a third very large crude-oil carrier, the Taizan, according to an NYK statement.

The company said Taizan, built in 2002 with a capacity of 300,000 tons, will shuttle oil mainly from the Arabian Gulf to Thailand for three years.

Thai Oil, which operates one of the largest refineries in Thailand, established a joint venture in 2011 that purchased the VLCC Tenyo from NYK, chartering it under a 10-year contract. The same process followed to conclude a long-term contract with NYK for the VLCC Tateyama in November 2012. This third vessel, Taizan, was added to Thai Oil's fleet in the same way.

NYK said its medium-term plan is to remain focused on meeting the growing demand for transport to and from Asia, and is seeking to further expand the transport of energy resources in the area.