Australia, Japan Enact Rules for Shipping Liquid Hydrogen
Australia and Japan signed a memorandum at the headquarters of the Australian Maritime Safety Authority (AMSA) in Canberra which will allow liquid hydrogen to be shipped in bulk for the first time. Ship containment systems are being developed in Japan that will be capable of safely transporting liquid hydrogen in bulk from Australia to Japan as part of a pilot project scheduled to commence in 2020. Bulk gas cargoes are carried under the International Code for the Construction…
Japan's Steel Exports Fall to Nine-year Low
Japan's overall steel exports in April fell 5.5 percent from a year earlier to the lowest in nearly nine years, but exports to the United States rose 11.7 percent as more semi-finished products were shipped, the Japan Iron and Steel Federation said on Thursday.Overall exports from the world's second-biggest steel producer fell for a 15th consecutive month to 2.836 million tonnes, the lowest since May 2009."The drop may reflect strong demand at home from auto and construction industries…
Tiny Japan Shipping Shares Jump on North Korea Detente Hopes
Shares of small Japanese shippers jumped this week after the historic summit between U.S. President Donald Trump and North Korean leader Kim Jong Un sparked hopes of news business ties with the reclusive country.Japanese retail investors are snatching up shares of the firms that may benefit from a potential thaw between Tokyo and Pyongyang, even though the Japanese government has been a staunch supporter of "maximum pressure" on North Korea.Shares of Rinko Corp, a marine transportation company…
APL Expands Japan-US Service
APL has launched the Japan Express (JPX) service, a new weekly Trans-Pacific service which directly connects Japan with the U.S. West Coast. Offering direct connectivity between Japan and the U.S., the JPX service will offer transit times as fast as a 10 days from Sendai to Los Angeles, said Jesper Stenbak, APL Senior Vice President of Trans-Pacific Trade. The new JPX service will call the ports of Kobe, Nagoya, Tokyo, Sendai, Los Angeles and Oakland. The first sailing will commence from Kobe on April 5, 2017.
Asian Ship Owners Meet in Japan
Held in Fukuoka, Japan, on March 19, 2017, the 29th Interim Meeting of the Asian Shipowners’ Association (ASA) Shipping Economics Review Committee (SERC)was attended by 21 delegates from ASA member associations of ASEAN, China, Chinese Taipei, Hong Kong, Japan and Korea. The U.S. economy is expected to pick up slightly this year, considering that manufacturing and investment will gain traction after a weak 2016. On the other hand, there is concern about how future economic policy and other policy initiatives under the Trump administration might affect not only the U.S.
Singapore Approves Japan Shipping JV
The Competition Commission of Singapore (CCS) has given the nod to a proposed joint venture between three Japanese shipping lines. Japan’s big three shipping groups, Kawasaki Kisen Kaisha (K Line), Mitsui OSK Lines (MOL) and Nippon Yusen Kaisha (NYK), announced last year an integration of their container shipping business with the establishment of a joint venture by 1 July 2017 and the commencement of joint servce from 1 April 2018. Under the JV, the Parties will merge their container liner shipping business, and their container terminal services businesses outside Japan.
Singapore, Japan to Collaborate in Development of Ports
Maritime and Port Authority of Singapore (MPA) signed a Memorandum of Cooperation (MOC) with the Ports and Harbours Bureau of the Ministry of Land, Infrastructure, Transport, and Tourism of Japan (MLIT) at the sideline of the International Symposium on LNG bunkering in Yokohama, Japan. The areas of cooperation under the MOC include port planning, port management and technological development in the port sector. Signed today by Mr Andrew Tan, Chief Executive of MPA, and Mr Michio Kikuchi…
Japan's Top 3 Shippers Sail to Profit in Q1
The healthy international trade and cost cutting measures augurs well for Japan's to three marine shippers - Nippon Yusen, Mitsui O.S.K. Lines and Kawasaki Kisen Kaisha - reported Nikkei. The report said that the three companies are expected to post a group pretax profit for April-June, the first time in seven quarters. According to the report, Mitsui O.S.K.'s pretax profit likely tripled on the year to around 2 billion yen ($17.7 million), while Nippon Yusen's is seen reaching about 5 billion yen after a year-earlier pretax loss of 9.9 billion yen.
Japan Bank Finances Danish Shipper
The Japan Bank for International Cooperation (JBIC) will provide a total of $28.3 million in syndicated loans with French bank BNP Paribas to help a major Danish shipping operator’s unit buy cargo vessels to be built by leading Japanese shipbuilder Imabari Shipbuilding, Jiji Press reported. The state-owned JBIC aims to revive the domestic regional economies relying on the shipbuilding industry by giving financial support for vessel exports at a time when the industry faces a global slump due to oversupply, the report quoted informed sources as saying.
Japan's Big Three Shippers Bullish
Japan’s big three shippers -Mitsui OSK Lines (MOL), Nippon Yusen Kabushiki Kaisha (NYK) and Kawasaki Kisen Kaisha (K Line) - have reported profits for the first quarter, bouncing back from losses a year earlier Reuters reported. Thanks to rising freight rates, the shippers showed brightened financials ahead of their integration into the Ocean Network Express (ONE) next April. The results are also raising hopes the firms could be emerging from the industry’s worst-ever downturn on record. NYK recorded a profit attributable to owners of the parent of 5.4 billion yen (U.S.
Singapore, Japan Feasibility Study LNG-Fuelled Car Carriers
To promote LNG bunkering in Asia, the Maritime and Port Authority of Singapore (MPA) and the Ports and Harbours Bureau of the Ministry of Land, Infrastructure, Transport, and Tourism of Japan (MLIT) will helm a working group to conduct a feasibility study on LNG bunkering for car carriers plying between Japan and Singapore. This working group will include Japan’s big three shippers – Kawasaki Kisen Kaisha (K Line), Nippon Yusen Kaisha (NYK) and Mitsui O.S.K. Lines (MOL). The study…
New Study Looks at LNG Bunkering for Car Carriers
To help promote liquefied natural gas (LNG) bunkering in Asia, the Maritime and Port Authority of Singapore (MPA) and the Ports and Harbors Bureau of the Ministry of Land, Infrastructure, Transport, and Tourism of Japan (MLIT) will helm a working group to conduct a feasibility study on LNG bunkering for car carriers plying between Japan and Singapore. This working group will include Japan’s big three shippers – Kawasaki Kisen Kaisha (K Line), Nippon Yusen Kaisha (NYK) and Mitsui O.S.K. Lines (MOL).
K Line to Develop Japan’s First LNG-Fueled Ferry
Japan's shipper giant Kawasaki Kisen Kaisha (K Line) and Kawasaki Kinkai Kisen Kaisha (K Line Kinkai) will work on a joint study for what would be Japan’s first LNG-powered ferry. "K Line Kinkai and K Line) have agreed to work on joint study for K Line Kinkai’s newbuilding passenger ferry being fueled by LNG, whose study includes specifications, engine types and any related technical verifications for LNG handling," said a statement from the company. K Line Kinkai has been studying introduction of a ferry fueled by LNG…
Japan's JICA to Fund India's Alang-Sosiya Shipyards
The Government of India signed a loan deal worth USD 76 million with Japan International Cooperation Agency (JICA), for a project to upgrade the environment management plan at Alang-Sosiya ship recycling yards. The total cost of the project will be $ 111 million, out of which $76 million will be provided as soft loan from JICA. Out of the remaining amount, $25 million as taxes and fees will be borne by Government of Gujarat and the balance $10 million will be shared by Ministry of Shipping & Government of Gujarat.
MPA, ReCAAP Join in Combating Piracy
The Ministry of Foreign Affairs of Japan (MOFA Japan) and the Maritime and Port Authority of Singapore (MPA), in cooperation with the ReCAAP Information Sharing Centre (ReCAAP ISC), jointly launched the inaugural Capacity Building Executive Programme on combating piracy and armed robbery against ships in Asia in Singapore. The Capacity Building Executive Programme—targeted at senior-level personnel with 10 to 15 years of experience and above in maritime enforcement—will see ReCAAP Contracting Parties from ASEAN (Cambodia…
Scorpio Gets Financing for Kamsarmax Vessel in Japan
Scorpio Bulkers Inc announced that it has entered into a financing transaction in respect of one of the Company’s Kamsarmax vessels with unaffiliated third parties in Japan. The cost of the financing is equivalent to an expected fixed interest rate of 4.24% for 10 years. If converted to floating interest rates, based on the expected weighted average life of the transaction, the equivalent margin at current swap rates would be LIBOR + 2.07%. As part of the transaction, the Company will sell a 2015 Japanese built Kamsarmax dry bulk vessel…
Japan Slams China Over Maritime Issues
Japan has accused China of being assertive over maritime issues, taking actions that effectively amount to a "fait accompli", reports Strait Times. In its 484-page annual defence white paper on Tuesday (Aug 2), the defence ministry said the aggressive actions by China could "cause unintended consequences", referring to past incidents including one where a China naval frigate entered Japan's contiguous zone this year, near a crop of islets in the East China Sea that has been claimed by both countries.
Wheatstone LNG Facility Exports First Cargo to Japan
Australia's Wheatstone liquefied natural gas (LNG) project, after starting production earlier this month, has shipped its first export cargo to a buyer in Japan, majority owner and operator Chevron Corp said on Tuesday. Wheatstone is the sixth out of eight projects in a $200 billion Australian LNG construction boom that is now in its final stretch. The two remaining project due to for start-up are Royal Dutch Shell's Prelude floating LNG project and Ichthys, led by Japan's Inpex.
MOL Truth, Japan's 1st 20,000 TEU Containership, Delivered
Mitsui O.S.K. Lines (MOL) announced that one of world's largest containerships, the MOL Truth, was delivered at the Saijo Shipyard of Imabari Shipbuilding Co., Ltd. (President: Yukito Higaki, Headquarters: Imabari-shi, Ehime Prefecture) on October 31. The MOL Truth is the first containership with a capacity of over 20,000 TEU built in Japan, and the fifth in a series of six 20,000 TEU containerships that are operated by MOL. On October 25, it was named the MOL Truth. The new containership is 400m long, with a breadth of 58.5m, and has a loading capacity of 20,182 TEU.
APL Celebrates 150 Years in Japan
The Yokohama Port and Habour Bureau, Yokohama-Kawasaki International Port Corporation and Yokohama Port Corporation have paid tribute to APL for its contributions as one of Japan’s longest-serving shipping lines. As APL celebrates 150 years of shipping in Japan, the carrier also renews its commitment towards the advancement of the country’s maritime sector. APL Chief Executive Officer, Nicolas Sartini said, “Japan is strategic to APL’s Intra-Asia developments and we will build on our 150-year-old foundation which few can claim to own.
Japan’s KHI Moves Merchant Ship Construction to China
Japan’s Kawasaki Heavy Industries (KHI) diverts more shipbuilding work to its joint-venture yards in China, local media says. According to a report in Nikkei, KHI will step up commercial shipbuilding in China and scale down production in Japan to improve cost competitiveness as the market rebounds from a yearslong slump. The Japanese firm plans a 50% capacity boost at a shipyard in Dalian, Liaoning Province, that builds mainly large ships, including tankers and bulk carriers. The facility is jointly operated with China Ocean Shipping (Group) Co., also known as Cosco.
US Coal Exports Bound for Japan's New Power Plants
U.S. miner Cloud Peak Energy said on Tuesday it will export coal from a Montana mine for 30 to 40 months to two new power plants in Japan with shipments that could start late next year. The coal from Montana's Spring Creek Mine will be carried by rail to Vancouver and then sent by ship for delivery to two 540-megawatt coal gasification plants in Fukushima Prefecture, Cloud Peak said. JERA Trading Pte Ltd, a trading company based in Singapore, will buy the coal from Cloud Peak. Sales of the coal are expected to reach 1 million metric tonnes in the final contract year, Cloud Peak said.
M/Maritime Adds Olympia, Orders 3 Bulkers in Japan
Olympia GR, a 61,222 DWT Ultramax dry bulk carrier, has been successfully delivered to M/Maritime Corp from Shin Kurushima Toyohashi Shipbuilding Co. Ltd. Recently, the clients of M/Maritime Corp. signed two shipbuilding contracts for the acquisition of two 60,200 DWT bulk carriers to be built at Mitsui Engineering & Shipbuilding Co., Ltd. Both vessels, under Hull No. 1961 and Hull No. 1962 are scheduled to be delivered to their Owners between second half of 2019 and first half of 2020. Their full management will be entrusted to M/Maritime Corp.
Japan Navy Chief Urges Resumption of China Port Visits
The head of Japan's navy on Monday repeated criticisms of China's pursuit of territorial claims in Asia but called for a resumption of port and personnel visits suspended for several years amid rising tensions between the two Asian powers. Admiral Tomohisa Takei said exchange visits by senior naval personnel and warships were effective in improving relationships between armed forces. "They should be resumed as soon as possible," he told a Washington think tank. While criticizing China's for its actions in the East China Sea…
Japan, China Agree Trade War Will Harm Global Economy
Japan and China agree that a trade war will have serious consequences for the world economy, Japanese Foreign Minister Taro Kono said on Monday after a high-level economic dialogue between the world's third- and second-largest economies. Concern is growing about a trade row between China and the United States in which the two nations have threatened each other with tariffs. Japan has been criticised by U.S. President Donald Trump on trade and been hit with tariffs on steel and aluminum, but it has not yet threatened counter-tariffs.
Japan: An LNG Bunkering Hub?
New study examines Japanese government strategy for creating infrastructure for environmentally-friendly ship fuel.A new report by the Intrernational Transport Forum at the OECD assesses Japan’s ambition to become an international bunkering hub for liquefied natural gas (LNG).The Japanese government is working to position the nation as a LNG bunkering hub as it expects the fuel's significance in shipping to grow.Japan is already the world’s largest importer of LNG by a large margin.