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Saturday, August 17, 2019

Mitsui Osk Lines News

Award ceremony. Photos: MOL

JASNAOE Awards Go to MOL Group

Japanese shipping giant Mitsui O.S.K. Lines (MOL) announced that the Beluga Ace, the first ship of its "FLEXIE series" next-generation car carriers, and both the Sunflower Satsuma and Sunflower Kirishima ferries, which are operated by its group company, Ferry Sunflower Limited, have received the "Ship of the Year 2018," and "Large Passenger Ship Sector Award," respectively.It marks double awarding for the group companies, said a press note."This is MOL's sixth Ship of the Year Award…

Top: MOL President & CEO Junichiro Ikeda addresses the ceremony. Bottom: Chief Executive Representative, Asia, Middle East, Oceania, Masahiko Okubo (first from left), President & CEO, Junichiro Ikeda (second from left),  Executive Vice President & Executive Officer, Takeshi Hashimoto (second from right), and Chief Country Representative in Indonesia, Yo Ishizaki (first from right). Pics: MOL

MOL Indonesia Celebrate 25th Anniversary

Japanese shipping major Mitsui O.S.K. Lines (MOL) celebrated a major milestone-25 years since the launch of MOL business operations in Indonesia.The carriers of containerized and other cargo said in a press note that it has hosted a party in Jakarta for about 200 attendees, including customers to celebrate 25th anniversary. Among those on hand for the party were Japanese Ambassador to Indonesia Masafumi Ishii, and representatives of MOL's business partners.MOL President & CEO Ikeda addressed the gathering…

Pic: MOL

MOL’s LNG Pioneer Rescues 4 Castaways

Japanese shipping giant Mitsui O.S.K. Lines, Ltd (MOL) said that its liquefied natural gas (LNG)carrier LNG Pioneer safely rescued four castaways in the Pacific Ocean about 270km off Davao in the Island of Mindanao, the Philippines.The Bahamas-flagged LNG Pioneer was sailing off the coast of Davao Oriental province in the southern Philippines when it came across the distressed crew floating in the water aboard what was left of their fishing boat.The sequence of events was as follows:At 11:28 (all times in local time) on July 5…

Pic: MOL

MOL Celebrates Marine Day with Kids

Japanese logistics major Mitsui O.S.K. Lines (MOL) announced that it marked the Marine Day holiday on Monday, July 15, by hosting a tour of the car carrier Emerald Ace at Harumi Pier, in cooperation with the Japanese Shipowners' Association (JSA), as a part of "The Umi-to-Nippon (The Ocean and Japan) Project".MOL welcomed about 600 elementary and junior high school students and their family members, which was twice as much as the event last year, who were selected in an online application process.The guests boarded the huge vessel-measuring about 200m long…

Photo courtesy of ABS

ABS, MOL in Landmark Gas Carrier Pact

ABS and Mitsui O.S.K. Lines Ltd. (MOL) have signed a Memorandum of Understanding (MOU) to collaborate on up to 14 new gas carriers.The agreement covers seven new-build Very Large Ethane Carriers (VLEC) and up to seven new-build Liquefied Natural Gas Carriers (LNGC) designed to carry gas from the U.S. to China and other global markets.ABS will provide plan review, survey, inspection and other classification services for vessels, machinery and equipment as well as assist with managing the requirements for foreign flag carriers calling at U.S.

Pic: MOL

MOL Sets Terms of Green Bonds

Japanese shipping major Mitsui OSK Lines (MOL), the first company in Japan to issue sustainability bonds aimed at individual investors, has revealed interest and investor details of its new JPY 20bn ($185.7 million) “sustainability bonds” to fund its latest green initiatives.The funds raised will be used for several purposes, including establishing a maritime academy in the Philippines and installation of environmentally friendly equipment or scrubbers on board its vessels. The new bonds will be offered to both institutional and individual investors.

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

MOL to Renovate Nippon Maru

Japanese transport company Mitsui O.S.K. Lines, Ltd. (MOL) announced that its group company Mitsui O.S.K. Passenger Line, Ltd. (MOPAS) has scheduled a major renovation of its operated cruise ship, the Nippon Maru.According to a press release from MOL Group, the project will take about 50 days from mid-February through early April 2020.The Nippon Maru was renovated in 2010 when the ship marked its 20th anniversary. Additional cabins were constructed on the sixth floor, while the new Horizon Lounge and Spa & Salon were added.

Pic: MOL

MOL Works on Environmental Agenda

Japanese shipping giant Mitsui O.S.K. Lines (MOL) formulated MOL Group Environmental Vision 2030 to present our cutting-edge initiatives for environmental preservation."Shpping companies are responsible for undertaking the marine transportation vital to the infrastructure underpinning people's daily lives worldwide," it said.MOL established a policy to equip its vessels with ballast water treatment systems in fiscal year 2014, ahead of the issuance of the Ballast Water Management Convention in September 2017.As of April 2019…

MOL Chairman Koichi Muto delivering  a speech in Mumbai. Photo: MOL

MOL to Issue Sustainability Bonds

Japanese shipping company Mitsui O.S.K. Lines (MOL) has announced its plan to issue “Sustainability Bonds” for the financing of a series of green projects.This is the first time a company in Japan has issued sustainability bonds aimed at individual investors.Sustainability bonds are used to both finance and refinance green projects, which protect and improve the environment, and social projects, which help address social issues.In the management plan "Rolling Plan 2019," MOL's goals include "develop environment and emission-free businesses into core businesses…

Pic: MOL

MOL Releases 'Fleet Viewer' Application

Japanese marine transport company Mitsui O.S.K. Lines (MOL) announced that MOL, Mitsui E&S Shipbuilding, and Weathernews Inc. jointly released "Fleet Viewer," as part I of MOL's "FOCUS" Project intended to enhance the collection and application of ship operation data.Ensuring safe vessel operation, and in turn safeguarding the transport of people and cargo is the foundation of the ocean shipping industry.For the most part, however, maintaining safety and addressing problems onboard have relied on the skills and experience of seafarers on the front lines…

Image: MOL

MOL Buys Reliance Ethane Carrier Fleet

Japanese shipping giant Mitsui OSK Lines (MOL) will buy Reliance Industries (RIL) stakes in Singapore-based Reliance Ethane Holding (REHPL) which has a fleet of six very large ethane carriers (VLECs).RIL has 100% holding in six limited liability companies (LLCs) which own the VLECs. "MOL and a strategic minority investor have signed binding definitive agreements for an investment in the six special purpose limited liability companies each owning a VLEC," said a statement from the Mukesh Ambani-led Indian conglomerate holding.Transaction closing is subject to regulatory approvals.

The dry bulkship Cedros, used for the demonstration test. Image: MOL

MOL Launches Rope Status Monitoring System

Japanese shipping major Mitsui O.S.K. Lines (MOL) announced that, in partnership with MOL Coastal Shipping, and MOL Information Systems, it will start a demonstration test of a mooring rope with a built-in sensor, along with a rope status monitoring system.The project focuses on the mooring ropes that connect vessels to piers and other port facilities, said a press release from the  international shipping company based in Tokyo, Japan.In general, the tension on mooring ropes is hardly determined in accurate, except at certain ports equipped with tension monitors.

LNG bunkering vessel supplying a containership. Pic: MOL

MOL Signs LNG Charter with Pavilion Gas

Mitsui O.S.K. Lines (MOL) has announced that it has signed a long-term charter contract to operate Asia's largest (12,000m3-class) LNG bunkering vessel in Singapore, the world's largest fuel supply port, with Pavilion Gas, a wholly-owned subsidiary of Pavilion Energy.Demand for LNG as bunker fuel is expected to grow on a global scale as stricter SOx regulations take effect in January 2020. Singapore's Maritime and Port Authority (MPA) is focusing considerable effort on development…

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…

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: 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.

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.

‘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…

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: 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.

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…