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.
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, 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…
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.
MHI Pact for Domestic Shipbuilders on Forming Alliances
Mitsubishi Heavy Industries (MHI) has reached basic agreements with Imabari Shipbuilding Co., Ltd. and Namura Shipbuilding Co., Ltd. in the wake of ongoing discussions focused on forming alliances in the commercial ship business. Discussions toward concluding a similar alliance with Oshima Shipbuilding continue. The agreements are targeted at achieving sustained growth through the pursuit of mutually complementary, synergy-generating alliances while respecting each partner’s independence, in an overall effort to strengthen the competitiveness of all alliance partners in the global marketplace.
MHI Announces Executive-level Personnel Changes
Mitsubishi Heavy Industries, Ltd. (MHI) announced executive-level personnel changes effective January 31 and February 1, 2017. Hiroshi Yokota, Senior Vice President, Head of Nagasaki Shipyard & Machinery Works, President of Mitsubishi Heavy Industries Shipbuilding Co., Ltd., will retire January 31, 2017. Masao Miyazaki, currently Fellow, General Manager, Shipbuilding & Ocean Development Division of Commercial Aviation & Transportation Systems, will become Fellow, General Manager…
Japanese Yards Mull Shipbuilding Alliance
Four major Japanese shipbuilders are in discussions to form an alliance in hopes of riding out the industry slump. Mitsubishi Heavy Industries, Ltd. (MHI) announced in a press release today that it has entered talks with Imabari Shipbuilding Co., Ltd., Oshima Shipbuilding Co., Ltd. and Namura Shipbuilding Co., Ltd. “The move toward forming these alliances targets the integration of MHI's strengths in shipbuilding technology and engineering with the three prospective partners' manufacturing capabilities and cost competitiveness,” MHI said.
MENA Renamed Mitsubishi Turbocharger & Engine America
Effective July 1, Mitsubishi Heavy Industries, Ltd. (MHI) will change the corporate name of its turbocharger and engine operations base in North America from Mitsubishi Engine North America, Inc. (MENA) to Mitsubishi Turbocharger and Engine America, Inc. The name change is being made in order to reflect the company's current business portfolio now that its business scale in turbochargers, locally produced by MENA since last year, has expanded rapidly. Going forward, the renamed base will accelerate business expansion not only in the North American market…
AIDAprima Christened in Hamburg
Carnival Corporation & plc officially welcomed its fleet’s newest ship with the christening of AIDAprima, now the flagship vessel for Carnival’s German-based brand AIDA Cruises. AIDAprima made its debut with a light show and naming ceremony witnessed in person by 1.6 million visitors at the 827th Hamburg Port Anniversary. AIDAprima launched as the corporation’s most environmentally friendly ship, equipped with a dual-fuel engine that can be powered by liquefied natural gas (LNG) while in port and at sea.
MHIA Relocates to Houston
Today Mitsubishi Heavy Industries America, Inc. (MHIA), a Group company overseeing the business of Mitsubishi Heavy Industries, Ltd. (MHI) in North America, commenced full-scale operations at its newly relocated Head Office in Houston, Texas, following a move from its previous base in New York. MHIA held a reception at Rice University today to mark the occasion in the presence of guests including The Honorable Greg Abbott, Governor of Texas. Present at the reception, MHI President…
Mitsubishi Books Loss from Cruise Ship Business
Mitsubishi Heavy Industries, Ltd. (MHI) hereby announces its intent to book an extraordinary loss from its cruise ship business in the company's consolidated financial results for fiscal year (FY) 2015 (ending March 31, 2016). In November 2011 MHI received an order for two large-sized cruise ships for the AIDA Cruises brand. Due to difficulties in construction of the prototype ship, the Company booked extraordinary losses of 64.126 billion yen in its consolidated financial results for fiscal year 2013 (ending March 31, 2014) and 69.534 billion yen for fiscal year 2014 (ending March 31, 2015).
MHI Establishes MHI Australia Pty. Ltd.
Today Mitsubishi Heavy Industries, Ltd. (MHI) launched operations at MHI Australia, Pty. Ltd. in Sydney. Creation of the new entity has two overriding ambitions: 1) to strengthen ties with Australia's governmental institutions and economic and industrial sectors, and 2) to serve as a base for developing relationships with Australia's academic bodies, including universities and research institutes. MHI Australia will help drive proactive sales support as well as broad information gathering to reinforce MHI's business structure in the Australia/Oceania region as well.
Japanese Consortium Pulls Out of Brazilian Shipyard Ecovix
A consortium of Japanese shipyards decided to sell its stake of Ecovix, which controls the Rio Grande Shipyard, reports Reuters. Mitsubishi Heavy Industries, four other shipbuilders said in October 2013 acquired 30% of Ecovix-Engevix Construcoes Oceanicas in a deal reportedly worth some 30 billion yen (about $305 million at the time). In addition to MHI, the Japanese group includes Mitsubishi Co and the Imabari, Namura and Oshima Shipbuilding companies. Mitsubishi Heavy owns about half of the stake, bought through a special-purpose company.
Germany Out of Australian Submarine Tender
As a bid from Germany’s ThyssenKrupp Marine Systems (TKMS) loses ground over technical concerns, the competition for a A$50 billion ($34.55 billion) contract to build Australia’s next submarine fleet is narrowing to a race between Japan and France, reports Reuters. Some sources say Japan may be closer to grabbing the submarine fleet. Another bidder for the Australian submarine fleet competition is France. Australia has said it wants a boat in the 4,000-ton class. TKMS is proposing to scale up its 2…
AIDA Prima on Fire - Third Time!
AIDA Prima, a new ship for Carnival Corp.'s AIDA Cruises brand, was damaged by a fire early Sunday at Mitsubishi Heavy Industries Ltd.’s shipyard in Nagasaki, the Japan Times reports. The fire reportedly was quickly extinguished by workers, with no injuries. Citing police and firefighters, local media said a worker found cardboard and insulation materials burning. The fire, which is the third to strike at the shipyard in January, is reportedly being investigated as an arson. It follows an electrical fire near a theater space on January 11…
MHI's Entity to Oversee Material Handling Equipment, Engine and Turbocharger Businesses
Today Mitsubishi Heavy Industries, Ltd. (MHI) decided in principle to launch a new wholly owned entity to integrally oversee its current businesses in material handling equipment centered on forklift trucks, engines and turbochargers. The new entity will serve as an independent management body to provide integrated and swift responsive oversight of these three core businesses. Under this initiative, MHI looks to generate synergy benefits, streamline its organization, and explore new fields as a way of significantly strengthening its competitiveness.
Japan Hardsells Submarine to Australia
Japan has urged Australia to award a contract to build its new $50-billion submarine fleet, reports SMH. Japan, which is offering a variant of its 4,000 ton Soryu submarine, is competing against rival bids from Germany and France for the contract. Japanese Foreign Minister Fumio Kishida has delivered a blunt message to Canberra that only its bid to build Australia's new $50 billion submarine fleet can provide the crucial "strategic" element. Mitsubishi Heavy Industries (MHI) chief executive Shunichi Miyanaga…
MHI Welcomrd New Employees
Mitsubishi Heavy Industries, Ltd. (MHI) held a ceremony at Shinagawa Intercity Hall in Tokyo to formally welcome new employees joining the company this year. President and CEO Shunichi Miyanaga addressed the new recruits, about to begin new lives as productive members of society, both as head of one of Japan's leading manufacturing companies and, on a more personal level, as an experienced participant in society. He indicated how they should prepare themselves to serve as MHI employees and expressed his high hopes and strong expectations for their future achievements.
How Japan Can Lead the Marine Renaissance
Being an island nation, Japan is inevitably dependent on seaborne trade. Over time, this has led to it becoming a strong player in the global maritime market. Japan’s shipbuilding pedigree has gained the country a foothold in LNG carriers, dry bulk cargo barge and pure car truck carriers (PCTC). While Japan is still a significant player, large-scale investments made by the Chinese and South Korean governments in the 1980s pushed them ahead. Japan’s energy market is also going through a period of change.
Japan's MHI Bags Indian Oil's LNG Storage Tank Contract
Indian Oil Corp (IOC) has awarded a contract to build two football stadium-sized liquefied natural gas (LNG) storage tanks at its upcoming Ennore LNG import terminal in Tamil Nadu to Mitsubishi Heavy Industries Pvt Ltd (MHI) of Japan. "We have received an EPC (engineering, procurement and construction) order from Indian Oil to construct two LNG storage tanks. The LNG tanks will be the main facility at the first LNG receiving terminal to be constructed on India's east coast. This is also the first LNG storage tank order that MHI has received from India.
MHI, MHPS in Consolidation Mode for Enhanced Competitiveness
Mitsubishi Heavy Industries, Ltd. (MHI) and Mitsubishi Hitachi Power Systems, Ltd. (MHPS) have planned to reorganize their their Nagasaki Shipyard & Machinery Works and Nagasaki Works respectively. The coordinated decisions are aimed at further strengthening global competitiveness, particularly in terms of technologies, costs and efficiency, by pursuing higher productivity through consolidation of their manufacturing sites by product: at MHI in the area of defense and space systems, and at MHPS in operations involving thermal power generation systems.
MHI, SBG Invest in Wind Energy Startup Altaeros Energies
Mitsubishi Heavy Industries, Ltd. ("MHI") and the Suhail Bahwan Group ("SBG") have invested in Altaeros Energies, a Massachusetts-based technology company, to support the design and production of its Buoyant Airborne Turbine ("BAT") renewable energy and communication platform. MHI and SBG bring deep strategic expertise in developing and executing large technology projects for industrial and government customers around the world. The Altaeros BAT offers a multi-purpose platform to supply power, telecommunication, and other sensing and security services to remote and off-grid customers.
Hitachi Gas Supply System Order for MHI
Mitsubishi Heavy Industries, Ltd. (MHI) has received an order from Hitachi Zosen Corporation for a high-pressure gas supply system enabling use of natural gas as fuel in marine engines. In lieu of conventional heavy oil, the system supplies liquefied natural gas (LNG), injected under high pressure, to the engine. This configuration curbs emissions of sulfur oxides (SOx), nitrogen oxides (NOx) and carbon dioxide (CO2), thus contributing to reduction of environmental loads. Delivery of the system is scheduled for the second half of 2016…
Shipboard Waste Heat Recovery Technology
Calnetix Technologies, LLC has published a White Paper describing new processes for producing supplemental power for a ship’s electrical load. The White Paper, entitled New-Technology Shipboard System Converts Heat from Engine Jacket Water into Electrical Power, is available for free download. Calnetix, working in close cooperation with Mitsubishi Heavy Industries Marine Machinery and Engine Company (MHI-MME), has developed a system called Hydrocurrent, which uses an Organic Rankine…
NYK Charters 2 LNG Carriers for Freeport LNG Project
Two joint-venture companies that NYK has established with Chubu Electric Power Co. Inc. each concluded a time-charter contract for a new liquefied natural gas (LNG) carrier with Chubu Electric Power Co. Inc. In addition, one of the joint-venture companies, Trans Pacific Shipping 6 Limited, concluded a shipbuilding contract with MI LNG Company Limited,* and other joint-venture company, Trans Pacific Shipping 7 Limited, concluded a shipbuilding contract with Kawasaki Heavy Industries Ltd.
NYK and Astomos Conclude Time-charter Contract for 12th VLGC
Nippon Yusen Kaisha (NYK) concluded a time-charter contract for a new VLGC (very large gas carrier) with Astomos Energy Corporation, the world's pre-eminent liquefied petroleum gas (LPG) company. The new VLGC will be built by Mitsubishi Heavy Industries Shipbuilding Co. Ltd. and delivered in the fourth quarter of 2018. After delivery, the ship will be assigned to a service designated in a five-year time-charter contract, and NYK and Astomos will then have 12 VLGCs in operation under time-charter contracts.