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Tuesday, February 19, 2019

Mitsui News

Image: Ecoslops

Ecoslops and Suez Canal Economic Zone Ink Second Agreement

Ecoslops, the producer of recycled marine fuels from oil residues, and Suez Canal Economic Zone signed a new agreement, further to the signature of an agreement for a detailed feasibility study in January 2018.A press release said that the firms take another step towards the implementation of a collection, reception and treatment unit of maritime oil wastes, under the auspices of the French and Egyptian governments and on the occasion of the State visit of President Macron in Cairo.The new agreement…

Grand Orion in the port. Pic: MOL

First MOL Car Carrier Vessel Arrives in Cambodia

The 6,400 standard passenger car capacity, Mitsui OSK Lines (MOL)-operated car carrier Grand Orion has made a first call for such a vessel type in Cambodia.The Japanese shipping company said in a release that the car carrier called at the Port of Sihanoukville, Cambodia, and discharged about 12,000 tons of construction machinery. It was the first call at a Cambodian port by an MOL-operated car carrier, it added.In commemoration of the first call, Grand Orion Capt. Denis C. De…

Pic: Mitsui O.S.K. Lines

Asahi MOL Tankers Established

Japanese shipping company Mitsui O.S.K. Lines (MOL) and the marine transportation services provider Asahi Tanker Co have launched a new MR product tankers pool with a fleet of about 25 ships.The new pool, named Asahi MOL Tankers and headquartered in Republic of the Marshall Islands, will also launch MR product tankers that will be assigned to the pool.MR stands for Medium Range and refers to product tankers in the 45,000-55,000 deadweight ton class. This ship type has great versatility in transporting petroleum products such as gasoline…

Arrival of the four hybrid RTGs at MICT’s Berth 5. Photo: International Container Terminal Services, Inc.

MICT Gets Eco-Friendly RTGs

International Container Terminal Services, Inc.'s (ICTSI) flagship Manila International Container Terminal (MICT) has received four of 16 new hybrid rubber-tired gantries (RTG) as part of the Company’s long-term investment in capacity enhancement and environmental efficiency."A first in Philippines and Manufactured by Mitsui Engineering & Shipbuilding Co. Ltd. (MES) of Japan, the Mitsui Li-ion Hybrid RTG is equipped with a 200kVA Li-ion battery and a smaller diesel engine that dramatically improves the carbon footprint of the terminal…

Image: Mitsui OSK Lines

Moody's Downgrades MOL

The rating company Moody's Japan K.K. has downgraded  Japanese shipping company Mitsui O.S.K. Lines, Ltd.'s (MOL) corporate family rating to Ba2 from Ba1. The rating outlook is stable."We expect MOL's debt will not decline materially over the next few years and its leverage will likely remain above our downgrade guidance of 7.0x for a Ba1 rating," says Motoki Yanase, a Moody's Vice President and Senior Credit Officer.Moody's sees only a limited possibility for MOL to materially reduce its debt during the next several years…

Photo courtesy of Hoegh LNG

FSRU Suppliers Shift from Emerging Markets, Cut Back New Orders

Political instability and low credit ratings in emerging economies are putting some shipowners off ordering new floating storage and regasification units (FSRUs), as they shift focus to more mature gas markets.Liquefied natural gas (LNG) demand from emerging markets in Asia, Africa and South America was expected to be boosted by FSRU technologies that are less expensive and time-consuming than onshore import terminals.But a boom in speculative FSRU orders from shipowners led to an oversupply of units this year as import projects across the world were delayed or cancelled…

Pic: Ocean Network Express

PSA, ONE Launch Container Terminal in Singapore

The global transport company Ocean Network Express (ONE) and PSA Singapore (PSA),the flagship terminal of the global port group PSA International, will join hands to form a joint venture  company  based at Pasir  Panjang Terminal in Singapore.Subject to regulatory approvals, the joint venture terminal is scheduled to commence operations in the first half of 2019 and operate four mega container berths with a combined annual handling  capacity of 4 million TEUs, said a press release from the global container shipping company headquartered in Singapore.Pasir Panjang Terminal…

Pic: Mitsui O.S.K. Lines

MOL Conducts Test of Class Survey Using Drones

Mitsui O.S.K. Lines (MOL) announced that it participated in a demonstration test of ship class survey using aerial drones to inspect an MOL-operated coal carrier in service, along with Nippon Kaiji Kyokai (ClassNK), Hitachi Systems, and Mitsui Co.According to MOL, the demonstration test included a simulated ship inspection inside the cargo hold and ballast tank (which holds water used to balance the ship when it is not carrying cargo), using video shot from an aerial drone.The test verified the effectiveness of using drones to monitor rust…

A rendering of a typical FSRU.  Credit: Sener

Uniper intensifies LNG plans with Japan's Mitsui OSK

Mitsui OSK Lines to own, fund FSRU in Wilhelmshaven; FSRU could be operational in H2 2022.Energy group Uniper on Monday entered agreements with Japanese shipping group Mitsui OSK Lines to handle potential deliveries of liquefied natural (LNG) gas into Germany.Discussions about LNG have flared up recently as the German government wants to diversify away from pipeline gas arriving from Russia, Norway and the Netherlands.

Pics: Mitsui O.S.K. Lines, Ltd.

MOL Passenger Line 'Cruise of the Year 2018'

Mitsui O.S.K. Lines (MOL) announced that its group company, Mitsui O.S.K. Passenger Line (MOPAS) was recognized for its "efforts on market development by the Nippon Maru One Night Cruise," and received the award for outstanding performance in the "Cruise of the Year 2018" program.MOPAS was honored for its One Night Cruise programs based on three themes, which attracted a majority of passengers (70%) who boarded the Nippon Maru for the first time.While elaborately planned, all of the cruise themes offered a casual atmosphere…

MOL President & CEO Ikeda (5th from the right) and hosts greet guests at the party. Photo: MOL

MOL Turns 50 in Thailand

Mitsui O.S.K. Lines (MOL) celebrated the 50th anniversary for the establishment of Mitsui O.S.K. Lines (Thailand).On November 13, it held a party in Bangkok for customers, business partners, and others, marking the event and the centennial anniversary for the opening of liner service to and from Thailand by its predecessor, Osaka Shosen.Around 500 guests attended the event including Arkhom Termpittayapaisith, Minister of Transport, and Shiro Sadoshima, Japanese Ambassador to Thailand.

Pic: Sempra Energy

Sempra Energy Signs New Mexican LNG Terminal

Sempra Energy, the US group that aims to build a liquefied natural gas (LNG) export facility near Ensenada, Mexico, to serve customers in Asia moved closer to becoming reality as the natural gas utilities holding company  announced agreements with three international firms.The San Diego-based company announced in a press release that  that its subsidiaries Infraestructura Energetica Nova  (IEnova) and Sempra LNG & Midstream have signed three Heads of Agreements (HOAs) with affiliates of Total, Mitsui & Co. and Tokyo Gas Co.

Auto berthing and un-berthing simulation and image of demonstration test with a vessel. Image: MOL

Auto Collision Avoidance Project for Vessel Safety

Mitsui E&S Shipbuilding (MES-S), Mitsui O.S.K. Lines (MOL), Tokyo University of Marine Science and Technology (TUMST), Akishima Laboratories (Mitsui Zosen)  announced that on July 25, their proposed joint demonstration project related to the safety of vessels' auto berthing and un-berthing was selected for Japan's Ministry of Land, Infrastructure, Transportation and Tourism (MLIT)'s FY2018 autonomous vessel demonstration project.Human errors account for 80% of marine accidents…

‘Pink Lady’ (Photo: Port of Hamburg)

‘Pink Lady’ in the Port of Hamburg

ONE container shipping group’s first containership in novel magenta livery calls in HamburgWith her striking magenta color design, she’s a real eye-catcher in the Port of Hamburg. With a length of 320 meters and slot capacity of 8,102 TEU (20-ft standard Containers) Ocean Network Express – ONE shipping group’s ONE Continuity may not be among the biggest containerships ever seen in the Port of Hamburg, but her unorthodox color scheme has everybody staring and cameras clicking.Jan Holst…

Photo: Mitsui O.S.K. Lines, Ltd.

MOL Magsaysay Maritime Academy Opened

Japanese shipping giant Mitsui O.S.K. Lines (MOL) announced that an inauguration ceremony for MOL Magsaysay Maritime Academy (MMMA), jointly operated by MOL and Magsaysay Maritime Corporation (MMC), was held on September 12 in Salitran, Dasmariña City, the Philippines.Around 700 people attended the event, including Senator Grace Poe, Secretary of the Department of Transportation Arthur Tugade, H.E. Koji Haneda, Japanese Ambassador-designate to the Republic of the Philippines, President and CEO Doris Teresa Magsaysay-Ho of A.

The Sunflower Kirishima goes into service. Photo: MOL

MOL Launches Sunflower Kirishima

Mitsui O.S.K. Lines (MOL) announced that the newly built large-scale ferry Sunflower Kirishima operated by its group company Ferry Sunflower was launched on September 15, and with many passengers aboard, departed the Nanko Sunflower Terminal in Osaka Prefecture for the Port of Shibushi, Kagoshima Prefecture.The new Sunflower Kirishima has room for 20% more trucks compared to the old Sunflower Kirishima.With its sister ferry, the Sunflower Satsuma, which was launched on May 15…

(Image: Rolls-Royce)

Autonomous Shipping Pushing Full Steam Ahead

Rolls Royce and Intel Artificial Intelligence (AI) announced that they’re bringing advanced intelligence to cargo shipping to deliver on the benefits of an autonomous shipping future.As part of its effort to make commercial shipping safer and more efficient, Rolls-Royce is working to develop fully autonomous shipping solutions using artificial intelligence (AI) powered by Intel Xeon Scalable processors and Intel 3D NAND SSDs for storage.“Delivering these systems is all about processing – moving and storing huge volumes of data – and that is where Intel comes in.

Image: Zennor Petroleum

Zennor Petroleum Acquires Stake in Britannia Field

North Sea oil company Zennor Petroleum has entered into a Sale and Purchase Agreement with Mitsui E&P UK in respect of its interests in United Kingdom Continental Shelf Licences P.213, Block 16/26a, Area B and P.345 Block 16/27b Area B which represent an 8.97% working interest in the Britannia Field.Completion of the transaction is subject to customary regulatory and partner consents.The acquisition of the Britannia Field interest is strategic for Zennor given its 100% operated working interest in the nearby Finlaggan Field.

Image: Ocean Network Express

Ocean Express Network Incurs a USD600 mln Loss in First Year

Japanese carrier Ocean Network Express (ONE) is set to see losses spiral to $600m in its first year, says its revised consolidated business forecast for FY2018 (April 1, 2018 to March 31, 2019).The integrated container shipping operating company,  which was established by Kawasaki Kisen Kaisha, Ltd., Mitsui O.S.K. Lines Ltd., and Nippon Yusen Kabushiki Kaisha, said in a press statement that the loss is attributed to its struggle with a new information technology, staff shortages and a rapidly rising fuel costs.Singapore-headquartered ONE…

Image: MOL

MOL Worldwide Logistics Establishes Hong Kong HQ for MOL NVOCC Operations

Mitsui O.S.K. Lines (MOL) announced the establishment, effective July 1, of MOL Worldwide Logistics (MWL), and that they will lead MOL Group non vessel operating common carrier (NVOCC) business in Hong Kong.In a press release the company clarified that Non Vessel Operating Common Carrier (NVOCC) does not have own transport means (vessels), but carries cargoes between ports and to the final place of delivery by using other shipping companies.MOL Executive Officer Michael P.Y. Goh was appointed CEO of MWL.

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…

The 12 Waves warehouse in One Auto Hub. Photo: Mitsui O.S.K. Lines, Ltd.

MOL Invests in PKT Logistics

Mitsui O.S.K. Lines (MOL) announced that it completed the acquisition of 14.27% shares in PKT Logistics Group, a Malaysian logistics company. MOL's stake will rise from the current 20.86% to 35.13%.PKT provides end-to-end logistics solutions comprising freight forwarding, customs brokerage, contract logistics, haulage, distribution and others, to its customers from diverse market sectors.PKT owns and operates warehouses hub in Shah Alam, Selangor, offering over 55,000m2 of warehouse space in total.

From left: President of Imoto Lines Takayuki Imoto, Executive Officer of MOL Yutaka Hinooka, director, Managing Executive Officer of Ocean Network Express (Japan)  Hitoshi Adachi, Director General of Tokyo Metropolitan Government Bureau of Port and Harbor Makoto Saito, President & CEO of Tokyo Port Terminal Yuji Hirano, President of Utoc Masahiro Tanabe. Photo: Mitsui O.S.K. Lines, Ltd

Tokyo International Container Terminal Marks 20 Million TEUs Handled

Mitsui O.S.K. Lines (MOL) announced that the MOL-operated Tokyo International Container Terminal (TICT) reached a major milestone on August 21—a cumulative total of 20 million TEUs handled.The terminal started operations in November 1971, and in December of that year, the full containership Kamakura Maru, serving the Asia-Europe route, was the first vessel to call at TICT. After 47 years of successful operations, TICT becomes the first terminal in the Port of Tokyo to handle 20…

Image: Mitsui O.S.K. Lines, Ltd.

MOL Blue Ocean Environmental Bonds will be Japan's 1st Green Bonds

Mitsui O.S.K. Lines (MOL) announced a plan to issue green bonds (its 20th and 21st series unsecured corporate bonds) through a public offering in Japan's domestic market. It also announced the acquisition of a second opinion from a third-party institute.Japan's 1st Green Bonds are aimed at individual investors. Green bonds are used to raise funds for businesses aimed at protecting and improving the environment.MOL established the MOL Group Environmental Vision 2030 in April 2017…

Pic:  Eagle Marine Services

Eagle Marine Services Announces Rebrand to Fenix

Eagle Marine Services (EMS), an EQT Infrastructure III-owned container terminal which is one of the largest in the Twin Ports of Los Angeles and Long Beach, today announced the launch of a new corporate brand identity and name.Effective immediately, the organization will be known as Fenix Marine Services. The Fenix name represents the reinvention of what was once the most technologically advanced facility in North America.The rebranding also marks an important milestone in the company’s execution of its value creation plan…

Image: Ocean Network Express (ONE)

ONE Drags Down NYK Line Earnings

Container line joint venture Ocean Network Express (ONE) dragged down NYK Line in the first half of 2018 ended September 30 with with Japanese shipping group in the red.NYK Line reported a loss of JPY 9.7 billion for the six months ended September 30, compared with a JPY6.2 billion profit a year earlier. The consolidated revenues amounted to JPY 915.6 billion, down from JPY 1,064.2 billion in the same period of the previous fiscal year.The new shipping line ONE, which was established with the aim of integrating the container shipping business with those of Kawasaki Kisen Kaisha, Ltd.