Nippon Yusen Kabushiki Kaisha : NYK Vessel First to Make Commercial Transit through Expanded Panama Canal
June 28, 2016 at 01:15 am EDT
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June 28, 2016
On June 27, the expanded Panama Canal opened for commercial transit, and Lycaste Peace, a very large liquefied petroleum gas (LPG) carrier operated by NYK, was the first vessel to complete a commercial passage through the new locks.
On June 26, the Panama Canal Authority held an inauguration ceremony for the expanded canal. The maximum dimensions of a vessel transiting the canal have been expanded to
366 meters in overall length, 49 meters in breadth, and 15.2 meters of draft.
In 1914, the NYK-operated Tokushima Maru was the first Japanese-flagged vessel to pass
through the canal, and over the 100-plus years since then, NYK and the Republic of Panama
have maintained an important partnership.
Lycaste Peace transports LPG procured in the U.S. by the Astomos Energy Corporation (head office: Chiyoda-ku, Tokyo; president: Osamu Masuda) to Japan. Astomos Energy is one of the world's largest players in the LPG business, and NYK has maintained a close business relationship with the company for many years.
Astomos Energy plans to increase its LPG handling volume from the current 10 million tons/year to 12 million tons/year by 2017. Furthermore, the company is expecting growth in its LPG business in the coming years, including LPG procurement associated with new LNG projects in the Middle East, the U.S., and Australia. The expanded Panama Canal is expected to shorten transportation days to Japan from the U.S. East Coast and allow for further diversification of LPG supply sources.
Based on the business strategy outlined in the NYK Group's 'More Than Shipping 2018' medium-term management plan, NYK will continue to take advantage of creative solutions for stable, economical operations.
About Lycaste Peace
Overall length: 230.0 meters
Breadth: 36.6 meters
Molded depth: 10.78 meters
Gross tonnage: 46,021 tons
Flag: Panama
Built: 2003
Builder: Mitsubishi Heavy Industries Ltd.
The news on this website is as of the date announced and may change without notice.
Nippon Yusen KK published this content on 28 June 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 28 June 2016 05:15:11 UTC.
Original documenthttp://www.nyk.com/english/release/4208/004359.html
Public permalinkhttp://www.publicnow.com/view/67055CD11A51F5863CC9813876ECA83C084F2895
Nippon Yusen Kabushiki Kaisha (NYK Line) is one of the world's largest transport and logistics services providers. Net sales break down by activity as follows:
- bulk sea transport (42.7%): dry bulk, vehicles, oil products transport, etc.;
- containers sea transport (37.1%). The group also develops a containers terminals operation activity;
- logistics services (8.2%): storage, warehousing, delivery services, etc.;
- freight air transport (7.8%);
- other (4.2%): primarily real estate management, ships maintenance and repair.
At the end of March 2022, the group had a fleet of 658 vessels.
NIPPON YUSEN KABUSHIKI KAISHA 
