Automotive Customers Recommit to the Port of Hueneme
Wallenius Wilhelmsen Ocean (WWO) joins BMW North America (BMW) and GLOVIS America (GLOVIS) to secure their presence at the Port of Hueneme with long-term contracts.Representing over half of the Port’s cargo revenue, the automobiles being imported will reach more than 13 states. In addition, the Port also exports globally multiple OEM brands manufactured in the United States, acting as Ventura County’s international commerce gateway.“In a time of uncertainty from ongoing global trade talks and a watchdog approach to the tariff discussion…
NYK Introduces Its Green Bond Initiatives
Japanese shipping company Nippon Yusen Kabushiki Kaisha (NYK), the first company in the global shipping industry to issue labelled green bonds, presented its initiatives at a seminar conducted by Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. in Tokyo.A green bond is one in which the proceeds are used solely for the purpose of funding environment-friendly projects.The importance of environmental, social, and governance (ESG) initiatives is getting a lot of attention in capital markets…
NYK in Charter Agreement with Mitsubishi
Japanese shipping and logistics giant Nippon Yusen Kabushiki Kaisha (NYK) has signed long-term contracts with Diamond Gas International Pte. Ltd. (DGI), a wholly owned subsidiary of Mitsubishi Corporation (MC) located in Singapore, for DGI to charter from NYK three newly built liquefied natural gas (LNG) carriers.Previously, NYK concluded long-term time-charter contracts for three new LNG vessels for MC’s Cameron LNG project, so these most recent contracts bring the total to six carriers for MC.The NYK Group will be responsible for ship management for the three ordered LNG carriers…
BAM International Begins Kitimat Wharf Contract
The Hague-based BAM International, together with JJM Construction (Canada) and Manson Construction (USA), has received the full order to build the new Rio Tinto BC Works Terminal A on behalf of LNG Canada.The mobilisation and construction works being carried out by BAM and its partners for the Rio Tinto Terminal A expansion have started. BAM expects to complete this project in Autumn 2020.The project is valued at CAD 135 million, with BAM’s share amounting to 50% and JJM and Manson covering the other 50%.
Japanese Firms Sign Deals to Buy from LNG Canada
Two Japanese companies have signed agreements to buy liquefied natural gas (LNG) cargoes from the LNG Canada project, Reuters reported.Toho Gas Co signed a basic agreement with a wholly-owned subsidiary of Mitsubishi Corp to buy up to four cargoes or about 0.3 million tonnes per annum (mtpa) of LNG from the project over 15 years starting 2024/25.Tokyo Gas Co signed a heads of agreement with a wholly-owned subsidiary of Mitsubishi Corp to buy up to eight cargoes or about 0.6 million…
Build It and They Will Buy: The New World of LNG Canada
The first major liquefied natural gas (LNG) project to be approved globally in five years will be built in Canada, but its underlying philosophy appears to be more closely allied to the Australian concept of "she'll be right, mate."The LNG Canada project was given the green light on Tuesday by Royal Dutch Shell, which is leading the $31 billion venture along with partners Petronas, Mitsubishi, PetroChina and Korea Gas.What makes the first export plant on Canada's west coast different…
Bangladesh Shelves LNG Projects as Others Ramp Up
Bangladesh has put aside two smaller liquefied natural gas (LNG) projects with trading houses Gunvor and Vitol to focus on two larger LNG import terminals, one of which is already in use while the second will start up in March.Bangladesh has turned to LNG to offset falling domestic gas output to feed industrial demand and electricity generation in a nation of 160 million people where a third have no power supply.It aims to import 17 million tonnes a year of LNG by 2025, which in today's terms would make it a top five importer.
Zaitoun Green Shipping Forms Consortium for New Maritime Model
Dubai based Zaitoun Green Shipping has initiated, together with world leading companies in smart technology and solutions, a consortium to collaborate on radically improving performance of container ships and forming a new business model for this market.The consortium consists of the top international industry key players such as MacGregor, Mitsubishi Heavy Industries Marine Machinery & Equipment, Wärtsilä, Winterthur Gas & Diesel Ltd, Gaztransport & Technigaz (GTT), WIN GD, CargoTech and Carinafour.
Mitsubishi to Acquire 25% Take in Bangladesh LNG Terminal
Japan’s Mitsubishi Corp has agreed to take a 25% interest in Summit's Bangladesh LNG import terminal project - which will be the country's second such terminal.The other 75% of the Summit LNG terminal will remain with Summit Corp.Mitsubishi is planning to help in the development of an offshore receiving facility in the country. It will also develop a liquefied natural gas (LNG) receiving terminal that uses a floating storage and regasification unit (FSRU) in Bangladesh.Under the project…
Plans for Another South Australia LNG Import Plant in the Works
A private firm is looking to import liquefied natural gas (LNG) to South Australia starting in 2020, around the same time as two other proposed import projects, looking to fill a supply gap as domestic gas gets sucked into LNG exports.Venice Energy, set up by former BHP Billiton executives, plans to submit a development application to the South Australian government within the next month to park a floating storage and regasification unit (FSRU) in Port Adelaide, Managing Director Kym Winter-Dewhirst said.If regulatory approvals come through by March…
Redzic Joins Caterpillar as Digital Enabled Solutions VP
The board of directors of Caterpillar Inc. has appointed Ogi Redzic as a vice president to lead the company’s Digital Enabled Solutions Division (DESD), effective July 30, 2018. He will be based in Caterpillar's Chicago office and report to Group President of Customer & Dealer Support Bob De Lange.DESD is comprised of the company's data analytics group, the enterprise data hub, equipment management tools, Cat Connect technologies and customer experience portals.Redzic takes over for Caterpillar Vice President Julie Lagacy, who has led DESD on an interim basis.
ZIM Announces Senior Management Changes
ZIM has announced today that ZIM’s VP Global Sales, Saar Dotan, will replace Rafael Ben-Ari, ZIM’s VP Shipping, as of June 1. Dotan’s new title will be EVP Countries & Business Development.Dotan joined ZIM in 2005 and held several senior positions, lastly EVP Sales and Customer Service.Additionally, Yair Teitelbaum has been appointed ZIM’s VP Global Sales, effective September 1, 2018.Teitelbaum will join the company after working for Colmobil Corporation, serving as Senior Director of Mitsubishi Motors Israel Division since 2015.
Petronas Buys Stake in Canadian LNG Export Project
Malaysia's state-owned oil and gas company Petroliam Nasional Bhd said on Thursday it is buying a 25 percent stake in a Canadian liquefied natural gas (LNG) export project, nearly a year after cancelling its own planned terminal.The company, known as Petronas, scrapped plans to build a $36 billion ($28 billion) LNG export terminal in British Columbia last year over concerns of a glut in the market that led to depressed fuel prices.But surprisingly strong demand from China, South Korea and India has erased those concerns…
Buyers Seek US Waivers to Buy Iranian Oil amid New Sanctions
South Korea said on Wednesday it would seek U.S. exemptions to buy Iranian oil, a path many big oil consumers are likely to follow in the wake of new U.S. sanctions on Tehran, which will tighten world oil markets and push up prices.Iran is the third-largest oil producer in the Organization of the Petroleum Exporting Countries (OPEC) and a key supplier, especially to refiners in Asia.The United States plans to impose new unilateral sanctions after abandoning an agreement reached in late 2015 which limited Iran's nuclear ambitions in exchange for removing joint U.S.-Europe sanctions…
$3 Bln LNG-to-power Project Planned in Bay of Bengal
Bangladesh's Summit Power International said on Tuesday it signed a memorandum of understanding with Japan's Mitsubishi Corp and subsidiary Diamond Gas International to develop a $3 billion LNG-to-power project. Under the MoU, subsidiary Summit Corp, group company Summit Holdings and the Japanese firms agreed to develop an integrated liquefied natural gas (LNG) onshore receiving terminal with regasification capacity of up to 1,500 million cubic feet per day (mmcfd) at Matarbari, Moheskhali in the Bay of Bengal.
DNV GL Advised Partners Group on Offshore Wind Project
DNV GL, the world’s largest resource of independent energy experts and certification body, has successfully completed a comprehensive due diligence project on the 730 MW Borssele III/IV construction-ready offshore wind project in the Netherlands. The work was commissioned by Partners Group, the global private markets investment manager, in preparation for its successful bid to acquire a 45% stake in the project on behalf of its clients. The investment will make funds managed and/or advised by Partners Group the largest shareholder in the Borssele III/IV farm.
Green Shipping: Cargo Carriers Clutch at Compliance
LNG looms as the bridge to a ‘zero emissions’ future for shipping. The advent of industry wide tightening of allowable sulfur emissions is getting nearer. Suddenly, with the deadline now just one year away, the countdown clock will very soon be ticking much louder. Simply stated, the cap on allowable sulfur content in marine fuels, presently at 3.5 percent in many geographical regions, will be reduced to 0.5 percent in January 2020. The 0.1 percent sulfur cap, already in effect since 2015 in coastal Emissions Control Areas (ECAs) in Europe and North America, will remain.
Mitsubishi, Wärtsilä Joins for Improved Power and Propulsion Solution
Mitsubishi Heavy Industries Marine Machinery & Equipment Co., LTD (MHI-MME) and the smart technology group Wärtsilä have signed a Memorandum of Understanding (MOU) regarding the commercial marketing of a new energy solution for ships. The solution combines innovative technologies from both companies to produce greater power generation capacity and higher propeller propulsion for marine vessels. By integrating MHI-MME's waste heat recovery and energy saving power generation system (WHRS) with Wärtsilä's operational control technology for shaft generator systems…
Gazprom, Shell Discuss LNG Projects
A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Maarten Wetselaar, Member of the Executive Committee of Royal Dutch Shell, took place in St. Petersburg. The meeting addressed relevant aspects of strategic cooperation. Particular attention was paid to joint efforts in the liquefied natural gas (LNG) sector. The parties discussed the construction project for the third train of the LNG plant on Sakhalin Island and the progress of the Joint Study Framework Agreement for the Baltic LNG project. The meeting also focused on the Nord Stream 2 project.
Pakistan LNG Import Project Consortium Folds -Hoegh LNG
A consortium behind a liquefied natural gas (LNG) import project in Pakistan, including oil giant Exxon Mobil, France's Total and Qatar Petroleum, has been dissolved, shipping company Hoegh LNG said on Thursday. Hoegh LNG was due to supply the project's ship-based import terminal, a floating storage and regasification unit (FSRU), where LNG brought in by tanker is converted back to gas to feed into Pakistan's grid. The other six members of the consortium were Japan's Mitsubishi and Turkish developer Global Energy Infrastructure (GEI).
Smith Maritime Hauls Equipment to Puerto Rico
Smith Maritime recently hauled a barge load of equipment on behalf of CAT5 Resources to help rebuild cellular communication infrastructure in Puerto Rico following Hurricane Maria. Smith Maritime’s barge Marilyn Monroe was loaded at its terminal in Amelia, La. with vehicles, housing, bulk fuel, food and most importantly, self-powered cellular communication towers to reestablish communication on the island. Marilyn Monroe was towed by the tug Elsbeth 2, powered by fully mechanical Mitsubishi engines supplied by distributor Laborde Products and rated 1,675 HP at 1,600 RPM each.
Statoil Selects Gas4Sea for LNG Bunkering in Rotterdam
Gas4Sea partners - ENGIE, Mitsubishi Corporation and NYK - have been selected by Norwegian multinational energy group Statoil to be their liquefied natural gas (LNG) marine fuel supplier in the port of Rotterdam, in the Netherlands, for four crude shuttle tankers. The four planned dual fuel vessels are to come into service in early 2020 and will be operated by Statoil in Northern European seas. Gas4Sea will supply LNG using the ENGIE Zeebrugge which started operations earlier this year.
Toyota Backs Japanese $1.8 Bln LNG Vessel Order
Japanese car manufacturer Toyota Motor Corporation is turning to LNG-powered ships to transport its cars across the globe, according to a report from Japanese daily Nikkei. The company has backed an investment in up to 20 LNG-powered car carriers with the capacity to carry 7,000 vehicles each, as it is preparing for the environmental regulations that will go into force in 2020. Nippon Yusen Kaisha (NYK), Kawasaki Kisen Kaisha (K Line) and Toyota’s Toyofuji Shipping are expected to be in the running for the contract, which is estimated to be approximately $1.83 billion.
UniCarriers Corporation becomes Mitsubishi Logisnext
Mitsubishi Nichiyu Forklift announced that it will conduct the operational integration with its consolidated subsidiary UniCarriers Corporation and change its company name to "Mitsubishi Logisnext. Mitsubishi Nichiyu already announced its intention to perform the operational integration, on May 12, 2017, and, as of today, would like to announce that it will conclude the agreement between Mitsubishi Nichiyu and UniCarriers (Absorption-type Company Split Agreement) for which October 1, 2017 (planned) is set as the effective date, and will change its company name.
Ship-to-ship LNG Bunkering Starts in Port of Zeebrugge
The bunkering vessel ENGIE Zeebrugge performed in the port of Zeebrugge, Belgium, its first deliveries of liquefied natural gas (LNG) as a marine fuel to M/V Auto Eco and M/V Auto Energy, the two new gas-propelled pure car and truck carriers (PCTCs) of UECC. The LNG bunkering operations were conducted simultaneously while cargo operations for PCTCs were taking place. ENGIE Zeebrugge, which is the world’s first purpose-built LNG bunkering vessel, arrived in Zeebrugge at the beginning of April after delivery from Hanjin Heavy Industries & Construction Co.
OSC Launches VLCC Chartering Business
Oman Shipping Company (OSC) has officially set up a new commercial chartering desk offering its Very Large Crude Carrier (VLCCs) to major traders and charterers covering VLCC routes worldwide. OSC, one of the biggest ship owners in the MENA region, has a diversified and young fleet of 50 vessels. OSC owns 16 VLCCs within the fleet out of which OSC is now commercially managing 15 VLCCs through its subsidiary Oman Charter Company (OCC). The move follows an announcement in December 2016 which saw OSC withdrawing 15 VLCCs from the VL8 pool based in Singapore.