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Wednesday, June 19, 2019

Nippon Yusen Kabushiki Kaisha News

Photo: NYK

NYK Fixes Newbuild LNG Carrier with Edison

Japanese shipping and logistics giant Nippon Yusen Kabushiki Kaisha (NYK) has signed a contract with Edison SPA, a Milan-based energy company, to charter out a newly built liquefied natural gas (LNG) carrier for up to 20 years, including optional extension periods.The vessel is scheduled for delivery in 2022 from Hyundai Samho Heavy Industries Co. Ltd. The newly built LNG carrier will be propelled by WinGD-manufactured, dual-fuel slow-speed diesel engines.Dual-fuel slow-speed…

Image: NYK

NYK Tugboat Subsidiaries Merge

Japanese shipping and logistics giant Nippon Yusen Kabushiki Kaisha (NYK) announced that two of its subsidiaries that provide harbor tugboat and other related services, will merge on July 1, 2019.Yokohama, Kanagawa-based Wing Maritime Service Corporation will merge with compatriot Kaiyo Kogyo Corporation to form an unnamed entity, a press release said. NYK holds 100% stake in both the companies.Yukihiro Tatara is the president of both firms. Wing Maritime Service Corporation has…

Hestia Leader at the port of Hiroshima. Pic: NYK Line

NYK Cooperates with Ship Tour for Mazda Motor Corporation

On Christman day, Japanese shipping line Nippon Yusen Kabushiki Kaisha (NYK) cooperated with a ship tour sponsored by Mazda Motor Corporation by escorting about 70 elementary and junior high school students and their parents on board an NYK-operated pure car and truck carrier (PCTC).Since 1996, Mazda Motor Corporation has regularly held a tour of this kind as one of its social contribution activities to give children an understanding of the Japanese car industry, stimulate curiosity…

Pic: NYK Line

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…

Image of LNG carrier to be built by NYK Line

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…

Onboard remittance test. Photo: NYK Group

NYK Testing Cashless Ships

Japan's Nippon Yusen Kabushiki Kaisha (NYK) is currently considering the establishment of a new network that will enable onboard financial settlements through the remittance of electronic money (e-money).The the shipping and logistics company said it is as a part of the NYK Group’s medium-term management plan “Staying Ahead 2022 with Digitalization and Green”.Onboard tests have been conducted to examine the potential to reduce administrative work and the risk of cash loss, and thus foster an employee-friendly workplace where crews can work comfortably and concentrate on ship operations.Today…

‘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…

Photo: Yusen Logistics

Shanghai NYK-ANJI Logistics Begins Operations

Shanghai NYK-ANJI Logistics - a joint venture operated by Nippon Yusen Kabushiki Kaisha (NYK), Yusen Logistics and ANJI Automotive Logistics (ANJI) - has begun service under a new name.NYK and Yusen Logistics will use this collaboration to begin efforts to expand their supply chain logistics, particularly in the areas of auto parts logistics and finished car logistics.Until recently, the company had been known as NYKANJI Car Transportation Co. Ltd., a joint venture founded in 2004 by ANJI (51%) and NYK (49%).Over the past decade, NYKANJI Car Transportation Co. Ltd.

Photo: NYK

NYK Group Celebrates Successful O3 Challenge

Symphony Creative Solutions (SCS) an NYK Group company, held a thank you party with Ocean Network Express (ONE) at ONE’s head office to celebrate a successful Ocean of Opportunities Challenge (O3 Challenge), a contest for startups that was conducted from April to June 2018.Partners including NUS Enterprise and the Maritime and Port Authority of Singapore (MPA) were in attendance, and the solutions of the three O3 Challenge winners were introduced.The O3 Challenge, a worldwide contest aimed at creating new value through open innovation in the maritime industry…

From right Masashi Kashiwagi, president of JASNAOE, Norio Kanaya, captain of Hikawa Maru. Photo: NYK

Hikawa Maru's Technological Links to Showa Era

Hikawa Maru, which is owned by Nippon Yusen Kabushiki Kaisha (NYK)x, has been recognized by the Japan Society of Naval Architects and Ocean Engineers (JASNAOE) as a cargo-passenger ship that conveys the story of maritime technology in the early Showa era.On July 20, a ceremony was held at Meiji Kinenkan in Tokyo, and Norio Kanaya, the 28th captain of Hikawa Maru, received the recognition.This honor was introduced last year by JASNAOE and is given to vessels that have historical…

Chofu Works. Photo: Kobe Steel

NYK Line, Asahi Shipping Sign Contract with Kobe Steel

Nippon Yusen Kabushiki Kaisha (NYK Line)  together with Asahi Shipping, has concluded a long-term contract with Kobe Steel for the transport of coal for up to 20 years aboard a newly built ship. After delivery of the new vessel from Oshima Shipbuilding in 2021, the ship will transport coal from locations outside Japan to mainly the city of Kobe. This ship will be equipped with a diesel engine compliant with a more stringent environmental regulation limiting nitrogen oxide (NOx) emissions — i.e.…

ONE Stork (Photo: NYK)

ONE’s First Magenta Newbuild Delivered

A naming ceremony was held Monday at Japan Marine United Corporation’s (JMU) Kure shipyard for the first newly built containership painted in Ocean Network Express' (ONE) corporate color.The new magenta box ship, named ONE Stork, is the 10th of 15 new 14,000 twenty-foot equivalent unit (TEU) vessels ordered by Nippon Yusen Kabushiki Kaisha (NYK). It will be chartered by Singapore-based ONE, which began operations on April 1 by integrating the container businesses of Japanese ocean carriers Kawasaki Kisen Kaisha (K Line), Mitsui O.S.K.

Photo courtesy of GAC

GAC Australia Wins ONE Deal

Global container shipping company Ocean Network Express (ONE) has awarded GAC the agency contract to handle all its vessel calls in Australia covering the ports of Sydney, Melbourne, Brisbane, Adelaide and Fremantle. Under the agreement, GAC Australia will provide agency and husbandry services for approximately 210 calls annually.ONE is a joint venture formed by the integration of three major shipping lines in Japan – Kawasaki Kisen Kaisha, Mitsui OSK Lines and Nippon Yusen Kabushiki Kaisha – and is now the world’s sixth-largest container carrier.

Photo: APM Terminal

Ocean Network Express Calls APM Terminals Mumbai

NYK ARTEMIS, part of Ocean Network Express’s (ONE) PS3 service made its maiden call at APM Terminals’ Gateway Terminals of India (GTI)  offers connectivity to the Far-east Asian ports along with United States West Coast ports of Oakland and Los Angeles. This is the first call by the newly established ONE line to Mumbai’s Nhava Sheva terminal. ONE was established in 2017 by the integration of three Japanese shipping companies - Kawasaki Kisen Kaisha Ltd ("K" Line), Mitsui O.S.K. Lines Ltd (MOL) and Nippon Yusen Kabushiki Kaisha (NYK).

Photo: Ocean Network Express Pte. Ltd. (ONE)

ONE Stakeholders Announce Completion of Investment Payment

Japan's Kawasaki Kisen Kaisha, Ltd., Mitsui O.S.K. Lines, Ltd., and Nippon Yusen Kabushiki Kaisha have announced the completion of payment for investment in their new joint venture in the container shipping business, Ocean Network Express Pte. Ltd. (ONE). The JV was established in July 2017, with service commencing on April 1, 2018 with a total investment of USD 3 billion. The JV will be offering 85 services, calling at over 200 ports in 100 countries. K Line and MOL each hold 31 pct stake in the JV, while NYK participates with 38 pct share.

Photo: ONE

Container Shipping: ONE Begins

Japan's Ocean Network Express (ONE) announced the commencement of container shipping businesses on April 1, 2018. ONE is the result of an integration of the container operations of three Japanese shipping carriers, namely, Kawasaki Kisen Kaisha, Ltd ("K" Line), Mitsui O.S.K. Lines, Ltd (MOL) and Nippon Yusen Kabushiki Kaisha (NYK). In April 2017, MOL, NYK and 'K' Line, started services as "THE Alliance" with other major domestic and foreign shipping companies. Ocean Network Express will continue to provide services as an alliance member.

Courtesy NYK

NYK: Staying Ahead with Digitalization, Green

Nippon Yusen Kabushiki Kaisha ( NYK ) announced that NYK has formulated the new medium-term management plan “Staying Ahead 2022 with Digitalization and Green”. The new medium-term management plan states NYK’s corporate vision and management approach over the next five years from April 2018, which are designed to achieve sustainable growth by expeditiously adapting to thealtering business environment. The business environment surrounding NYK group is increasing its uncertainty as a consequence of today’s volatile shipping market condition…

Pic: NYK Car Carrier (China)

NYK Cautions of Illegal Conducts in Chinese Subsidiary

Nippon Yusen Kabushiki Kaisha (NYK) said that it has discovered that there is a possibility that former locally hired management personnel in NYK Car Carrier (China), its consolidated subsidiary located in Shanghai. The China unit is engaged in finished car logistics business in China, had committed unlawful expenditure or embezzlement. The Company established an investigation committee (the Committee ) to investigat the aforementioned matter on February 5, 2018 (with Tadaaki Naito President Representative Director and President Corporate Officer as the Chairman of the Committee…

Photo:  NYK Europe

WFW Advises NYK on LNG Carrier Charter

Watson Farley Williams  (WFW) advised NYK Nippon Yusen Kabushiki Kaisha  (NYK) on the execution on 26 January 2018 of its long-term charter contract with EDF LNG Shipping, a subsidiary of the electricity major, Electricité de France (EDF). The contract is for the chartering of a newly built liquefied natural gas (LNG) carrier for seven years, with optional extension periods for up to thirteen additional years. WFW also worked closely with the commercial and in-house legal teams at NYK, Hyundai Samho Heavy Industries and EDF on the construction arrangements for the vessel for the project.

Photo: Nippon Yusen Kabushiki Kaisha

Maritime Shipping Market Brightened: NYK Line

Japan’s Nippon Yusen Kabushiki Kaisha (NYK Line) said that conditions in the maritime shipping market were positive overall during the nine-month period of the fiscal year ending March 31, 2018. In the container shipping market, an upswing in spot freight rates stalled somewhat as the total supply of tonnage remained at similarly high levels as the previous year. Nevertheless, shipping traffic was brisk on the back of robust demand for container shipments. In the dry bulk shipping market…

Photo:  NYK Europe

NYK Signs Charter with EDF LNG Shipping

Japanese shipping company NYK Line announced that it signed a contract with EDF LNG Shipping, a subsidiary of Electricité de France (EDF), to charter a newly built LNG carrier for a total of seven years, with optional extension periods for up to 13 more years. The vessel will be built by Hyundai Samho Heavy Industries in Korea and is due to be delivered on April 30, 2020. The vessel will be fitted to EDF’s specific requirements and will have a 174,000-cubic meter capacity membrane…

Photo: K-Line Europe Ltd

K-Line, NYK Line, Chubu Electric, Toyota Tsusho Eye LNG Bunkering

Kawasaki Kisen Kaisha (K Line), Chubu Electric Power, Toyota Tsusho Corporation and Nippon Yusen Kabushiki Kaisha (NYK Line) have decided to work in the field of liquefied natural gas (LNG) bunkering in Japan. A joint statement that LNG is expected to become an important alternative to heavy fuel oil due to its relatively low carbon footptint, which will enable ships to meet increasingly stringent international regulations on emissions. The shipping forms K Line and NYK Line, together with electric utilities provider Chubu Electric Power and trading company Toyota Tsusho Corporation…

Graphics: Ocean Network Express

Ocean Network Express Completes Merger Approvals

South Africa’s competition watchdog becomes final signatory allowing Kawasaki Kisen Kaisha (K Line), Mitsui O.S.K. Lines (MOL ),  Nippon Yusen Kabushiki Kaisha (NYK ) merger, so that Joint venture (JV) can start operations on April 1. "K Line, MOL and NYK have  announced that their new joint venture company, Ocean Network Express Pte. Ltd., established in July 2017, has received all necessary merger approvals from local competition authorities in regions and countries where such approvals are required for the launch of service by the newly established joint venture company…

(File photo: Wallenius Wilhelmsen Logistics AS)

Fiat Chrysler Sues Shippers over Alleged Price Fixing

The automaker wants the Federal Maritime Commission to order payments from Wallenius Wilhelmsen Logistics AS and its sister company EUKOR Car Carriers Inc, Nippon Yusen Kabushiki Kaisha, Mitsui O.S.K. Lines Ltd, Compania Sud Americana de Vapores, Hoegh Autoliners AS and affiliated companies. Fiat Chrysler filed its complaint on Oct. 17. All but one of the shippers sued by Fiat Chrysler pleaded guilty and admitted to price fixing as part of a Justice Department investigation. The remaining firm, Hoegh, agreed last month to plead guilty and pay a $21 million criminal fine.

Image: Nippon Telegraph and Telephone Corporation

NYK Group, Dualog, NTT Group Join Partnership for Onboard IoT Platform

The Japanese shipping group NYK Group (Nippon Yusen Kabushiki Kaisha, MTI Co., Ltd.) will collaborate with Dualog and Nippon Telegraph and Telephone Corporation (NTT) Group on a vessel platform proposal that is currently being validated with ship information systems (SIMS) data, the companies announced. The experiment is focused on validation of the below technology, which is expected to benefit the maritime industry in actual sea operations: Data gathering from an expanding array of onboard sensors and monitoring equipment…