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Monday, December 9, 2019

Itochu Corporation News

Yoshihisa Suzuki. Photo: Gazprom

Gazprom, Itochu Sign MoU on Baltic LNG

Russian oil and gas company Gazprom and Japanese trading house Itochu have signed a memorandum of understanding (MoU) on the proposed Baltic liquefied natural gas (LNG) export project."With this document, the parties confirmed their interest in potential cooperation in the framework of the project," said a press note from the Russian gas giant.A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Yoshihisa Suzuki, President and Chief Operating Officer of Itochu Corporation, took place in St.

Photo: Port of Indiana

CGB Expands Soybean Processing Plant

The Consolidated Grain and Barge Co. (CGB)  announced the completion of its $32 million expansion at its soybean processing facility at the Port of Indiana-Mount Vernon.CGB President and CEO Kevin Adams and CGB Senior Vice President Steve O'Nan joined Port of Indiana-Mount Vernon Port Director Phil Wilzbacher to welcome the expansion that will increase servicing opportunities for Indiana's soybean farmers and increase product supply for agribusiness customers.CGB originates and markets grain and oilseeds for domestic and international markets.

LNG Schneeweisschen. Photo: Mitsui O.S.K. Lines

MOL Takes Delivery of LNG Schneeweisschen

Mitsui O.S.K. Lines (MOL) announced that  the LNG carrier, LNG Schneeweisschen, jointly ordered by MOL and Itochu Corporation was delivered on July 31st at the Okpo shipyard by Daewoo Shipbuilding & Marine Engineering (DSME) in South Korea.The 180,000 cbm newbuilding has entered in to a Transportation Service contract for several voyages with Uniper Global Commodities, 100% owned by one of the largest European gas and electricity companies, Uniper SE.The LNG Schneeweisschen features two new technologies - the slow-speed two-stroke engine (X-DF) made by Winterthur Gas & Diesel…

Eiji Okazaki (Photo: LISCR)

Liberian Registry Names Tokyo Appointments

The Liberian Registry has appointed Eiji Okazaki as president of the Tokyo office operated by its US-based manager, the Liberian International Ship & Corporate Registry (LISCR). Okazaki was formerly president and CEO of Japanese ship owner and ship manager IMECS Co Ltd, a subsidiary company of the Japanese major trading house, ITOCHU Corporation. He has nearly forty years’ experience of working at an executive level in the shipowning and ship sales and purchase sectors in Japan, Korea, and Europe.

MOL JV Ink Deal for 2 LNG Vessels

Mitsui O.S.K. Lines, Ltd. announced today that through a joint venture ship-owning company with Itochu Corporation charter agreements have been signed with E.ON Global Commodities SE, a wholly owned subsidiary of E.ON SE. The joint venture also signed a deal with Daewoo Shipbuilding & Marine Engineering Co., Ltd.’s shipyard in Korea to build maximum of two new 179,900m3 liquefied natural gas (LNG) carriers to be able to fulfil the contractual requirements to EGC. MOL will manage the two new vessels…

MOL Charters LNG Vessels to ExxonMobil

Mitsui O.S.K. Lines, Ltd. (MOL) has been awarded two long-term charters by an ExxonMobil affiliate and its co-venture partners in its Papua New Guinea LNG Project. The charters are for MOL’s two existing 177,000 cubic meter capacity LNG carriers with the tri-fuel-diesel electric propulsion systems built in South Korea at Hyundai yards in 2010 and co-owned by Itochu Corporation (Itochu) (MOL 70% and Itochu 30%). The vessels are to be operated by MOL. Simultaneously, MOL has entered into two heads of agreement…