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Watching The World: Japan invests in tankers

05/16/2011
Eric WatkinsOil Diplomacy EditorThe oil and gas industry may be interested to learn that top Japanese shipping lines plan major investments in vessels to carry key natural resources such as oil and LNG."We've had many inquiries from oil majors and we won't have enough ships if we don't do anything," Yasumi Kudo, president of Nippon Yusen KK, told Japan's Nikkei business daily.In particular, oil majors are demanding more shuttle tankers, or ships designed to transport oil from offshore fields in more than 500 m of water to onshore storage facilities.Nippon Yusen is considering an investment of more than ¥50 billion in these tankers, which increasingly are being used in the No...
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