At the Group of Seven (G7) summit held in Hiroshima, Japan, from May 18 to 22 , NYK exhibited a conceptual design for an ammonia-ready LNG-fueled vessel at the summit’s PR exhibition space. NYK's exhibit included the company’s attempts to implement the world's first ammonia-fueled vessel with a domestic engine (i.e., ammonia-fueled tugboat and ammonia-fueled ammonia carrier) and contained videos and panel displays to introduce zero-emission vessels.
In cooperation with other companies, NYK is promoting its participation in a project to develop the first ammonia-fueled vessel with a domestic engine. This is part of the Green Innovation Fund projects* sponsored by Japan’s New Energy and Industrial Technology Development Organization (NEDO).
For domestic and foreign media, more than 30 heavy industries, automotive manufacturers, and other entities including related ministries, local governments, and public corporations set up booths featuring Japan's world-leading initiatives in decarbonization, biodiversity conservation, disaster prevention, digitalization, and other areas. NYK was the sole company from the shipping industry to participate.
NYK will continue its efforts to achieve its long-term goal of reducing greenhouse gas (GHG) emissions to net zero by 2050.
Conceptual designs for an ammonia-ready LNG-fueled vessel
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 basic philosophy 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.”
Related Sustainable Development Goals (SDGs)
* Green Innovation Fund projects
To significantly accelerate current initiatives such as structural transformation of the energy and industrial sectors and innovation through bold investment towards carbon neutrality by 2050, a 2 trillion yen fund has been created at NEDO to provide continuous support to companies and others who are working on management issues based on shared ambitious and specific targets in the public and private sectors. The fund system provides continuous support for up to 10 years, from research and development and demonstration to social implementation. Support is provided mainly in the 14 priority fields for which action plans have been formulated in the Green Growth Strategy.