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MarketScreener Homepage  >  Equities  >  Tokyo  >  Tokyo Gas Co Ltd    9531   JP3573000001

TOKYO GAS CO LTD

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Tokyo Gas : Newly christened LNG carriers to take US LNG to Japan

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05/18/2019 | 08:55am EDT

Two new LNG carriers that will transport LNG from the US to Japan were christened by Mitsui OSK Lines (MOL) at the Tsu Shipyard of Japan Marine United Corporation.

The two vessels, Energy Innovator and Energy Universe, were named by Tokyo Gas president Takashi Uchida.

The LNG carriers will take LNG cargo from Dominion Energys Cove Point LNG in Maryland to Tokyo Gas under a 20-year agreement. Dominion began exporting LNG from the Cove Point LNG facility in March 2018.

According to the US Department of Energy, Cove Point was one of four US LNG terminals that exported a total of 483 cargoes in 2018, a jump from 262 export cargoes in 2017.

Japan was the third most popular destination for US LNG exports, receiving 37 cargoes, behind South Korea with 73 export cargoes and Mexico with 53 shipments.

The vessels are the 10th and 11th LNG carriers that Tokyo LNG Tanker Co owns and manages. MOL is involved in managing eight of those ships, including the two newbuilding carriers.

Each vessel has an overall length of 300 m, beam of 48.9 m and depth of 11.5 m, with tri-fuel diesel-electric propulsion system and a capacity of 165,000 m3 in self-supporting prismatic shape IMO Type B cargo tanks. They will have a service speed of 19.5 knots.

MOL will be the ship manager. Energy Universe will fly the Panamanian flag and be 100% owned and managed by MOL. Energy Innovator will fly the Japanese flag and be 90% owned by MOL and 10% by Tokyo LNG Tanker Co.

(c) Publishing Rights Reserved to Bahrain News Agency 2003 - 2019 Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (JPY)
Sales 2020 2 049 B
EBIT 2020 130 B
Net income 2020 91 062 M
Debt 2020 788 B
Yield 2020 2,14%
P/E ratio 2020 13,5x
P/E ratio 2021 14,0x
EV / Sales2020 0,99x
EV / Sales2021 1,02x
Capitalization 1 241 B
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Mean consensus OUTPERFORM
Number of Analysts 8
Average target price 3 038,75  JPY
Last Close Price 2 800,00  JPY
Spread / Highest target 19,6%
Spread / Average Target 8,53%
Spread / Lowest Target -12,1%
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Managers
NameTitle
Takashi Uchida President & Representative Director
Michiaki Hirose Chairman
Isao Nakajima Chief Financial Officer, Head-Finance & Personnel
Shin Yamagami Managing Executive Officer & GM-Technology
Fumio Murazeki Director & Managing Executive Officer
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