Japanese shipowner NYK is beefing up on LNG carriers to meet what it sees as an expansion of the trade and increased demand for vessels.

Speaking at investment fund Anchor Ship Partners’ conference in Tokyo, The Japan Maritime Daily reported NYK executive officer and LNG group head Yasuyuki Inami as saying the company plans to boost its LNG carrier fleet to more than 120 vessels by 2027 from the 85 it counts in its fleet as of the end of September.