Mitsubishi Wins Order for Two Ferries
Mitsubishi Shipbuilding Co., Ltd., a group company of Mitsubishi Heavy Industries, Ltd. (MHI) based in Yokohama, has received orders for two large, high-speed ferries from Shin Nihonkai Ferry Co., Ltd. The vessels will be constructed at the Tategami Main Plant of MHI's Nagasaki Shipyard & Machinery Works, scheduled for completion and delivery in 2021.The two ferries on order will be 222.5m long, 25m wide, 20.4m deep, with draft of 7.4m and gross tonnage of approximately 15,400. Each vessel features capacity of 268 passengers, 154 trucks (12m length) and 30 passenger cars approximately.
FLNG Market to Touch $17.5Bln by 2026
The global floating liquefied natural gas (FLNG) market is estimated to grow at CAGR above 5.2% over the forecast time frame 2019 to 2026 and reach the market value around $17.5 billion by 2026.Increasing demand for clean fuel techniques and increasing concentrate on sustainable energy blend will boost FLNG market growth, said a report by Acumen Research and Consulting.Rapid depletion of fossil fuel, combined with continuing carbon footprint reductions, will promote favorable company development.According to the International Energy Agency (IEA)…
MHI Vestas Bags Taiwan Switchgear Deal
Wind turbine manufacturer MHI Vestas Offshore Wind has signed its third contract in Taiwan for local production as it prepares to execute 900 MW of offshore wind projects."Confirming the first electrical component for local supply in the budding offshore wind industry in Taiwan, MHI Vestas has signed a conditional agreement with Mitsubishi Electric Europe B.V., with Taiwanese manufacturer, Shihlin Electric Co., included as an integral part of the production," said a notification from the company.The contract…
FUELTRAX Appoints Brill
Johnalan Brill joins FUELTRAX as of June 2019 as Director of Data Analytics for FUELTRAX. He will assist in leveraging operational data from FUELTRAX global fleet and provide expert analysis to determine best practices and operational efficiencies to clients. Overseeing the next generation of FUELNET advancements, Brill will be taking the lead in subsequent steps to expanding FUELNET analysis offerings, to continue to save time and provide value for clients through tools such…
Brill Name Director, Data Analytics at Fueltrax
Johnalan Brill joins Fueltrax as of June 2019 as Director of Data Analytics.In his role Brill will leverage operational data from Fueltrax global fleet and provide expert analysis to determine best practices and operational efficiencies to clients. Overseeing the next generation of FUELNET advancements, Brill will be taking the lead in subsequent steps to expanding FUELNET analysis offerings, to continue to save time and provide value for clients through tools such as dashboards…
Naming Ceremony for New LNG Carrier
On May 14, a naming ceremony was held at the Nagasaki shipyard of Mitsubishi Heavy Industries Ltd. for a new liquefied natural gas (LNG) carrier that NYK and JERA Co. will jointly own. The ceremony was attended by Satoshi Onoda, president of JERA Co. Inc.; Tadaaki Naito, president of NYK; and a number of related parties.At the ceremony, the ship was named “Bushu Maru” by Mr. Onoda, and the ceremonial rope holding the vessel in place was cut by his wife. The ship derives its name from Musashi province…
Inside Cruising’s LNG Plunge
Back when most owners were still debating how to handle the 2020 sulfur cap, or whether the deadline would even stick, Carnival forged ahead with a massive bet on LNG for cruise-ship propulsion. That early move is now starting to pay off.AIDAnova, the first cruise ship to ever be powered at sea by LNG, set sail on its maiden voyage from Tenerife in the Canary Islands on December 19, 2018. Speaking with Maritime Logistics Professional six weeks later, Carnival Corporation senior vice-president of maritime affairs Tom Strang gave his early verdict: LNG works.“It’s good news.
Gas4Sea, Equinor in LNG Bunkering Pact
Marine LNG Zeebrugge, a joint venture of the Gas4Sea partners - ENGIE, Mitsubishi Corporation and NYK - has signed an agreement with the Norwegian multinational energy group Equinor.Under the agreement, Marine LNG Zeebrugge will supply liquefied natural gas as a marine fuel to Equinor’s four crude shuttle tankers in the Dutch port of Rotterdam.The four planned dual fuel vessels are to come into service in early 2020; they will be operated by Equinor in Northern European seas.Marine LNG Zeebrugge will supply LNG using the LNG bunkering vessel ENGIE Zeebrugge which started operations in 2017.
MHI Appoints Izumisawa President & CEO
Mitsubishi Heavy Industries, Ltd. (MHI) announced executive-level personnel changes effective March 31 and April 1, 2019 and made nominations for Directors to be proposed to the 94th Ordinary General Meeting of Shareholders scheduled for June 27, 2019. MHI also announced the appointment of Seiji Izumisawa as President & Chief Executive Officer (CEO), effective April 1, 2019, and Chief Strategy Officer (CSO), a role he holds currently. He succeeds Shunichi Miyanaga, who will take on the role of Chairman of the Board after six years as MHI's executive leader.
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.