28843 members and growing – the largest networking group in the maritime industry!

LoginJoin

Sunday, February 28, 2021

Nyk Line News

© sutlafk / Adobe Stock

Total Joins Maersk-led Shipping Decarbonization Project

French oil major Total said it will contribute to a project led by shipping giant Maersk aiming to develop new alternative fuels and carbon neutral solutions for ships.The nonprofit Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping was formed in 2020 as the maritime industry continues efforts to reduce its environmental footprint. The center will create overviews of decarbonization pathways, accelerate the development of selected decarbonizing fuels and powering technologies, and support the establishment of regulatory, financial and commercial means to enable transformation.

A trio of marine powers in Japan -- NYK, IHI Power Systems Co., Ltd., and ClassNK -- seek to develop the world’s first ammonia-fueled tugboat. Image Courtesy NYK, IHI Power Systems, ClassNK

Japan Trio Begins Work on an Ammonia-Fueled Tugboat

As the marine industry works to find the ‘fuel of the future’ to address increasingly stringent emission regulations, an interesting development from a trio of marine powers in Japan seeks to develop the world’s first ammonia-fueled tugboat. The joint research and development agreement was signed by NYK, IHI Power Systems Co., Ltd., and ClassNK recently to put the world's first ammonia-fueled tugboat into practical use.With the entry into force of the Paris Agreement in 2016, global momentum for decarbonization has increased…

Ammonia-fueled ammonia gas carrier concept (Image: NYK Line)

Japanese Partners Eye Ammonia as Marine Fuel

A joint research and development (R&D) project initiated by a group of Japanese maritime companies aims to utilize ammonia as a marine fuel and establish methods for the mass transportation and supply of ammonia.The joint R&D agreement signed by NYK Line, Japan Marine United Corporation and Nippon Kaiji Kyokai (ClassNK) on August 6 will target the commercialization of an ammonia-fueled ammonia gas carrier (AFAGC) that would use ammonia as the main fuel, in addition to an ammonia…

Image courtesy NYK.

NYK Invests in Tugboat Biz at Largest Port in Vietnam

NYK Line (Vietnam) Co. Ltd. acquired 15% of total issued shares of Thoresen Vinama Tug Co. Ltd. (TVT hereunder) and entered the tugboat business at Phu My and Cai Mep ports in Vietnam.TVT has two tugboats providing tugboat services at Phu My and Cai Mep ports, located in the suburbs of Ho Chi Minh and the largest ports in the nation in terms of import/export cargo and inbound/outbound vessels.NYK made this investment decision after considering the tugboat business in Vietnam, a country that has achieved remarkable economic growth in recent years…

© Fotos von Schiffen/AdobeStock

COVID-19 Slams Vehicle Carrier Market

COVID-19 has hit the vehicle carrier market hard. The world vehicle demand has dropped by c.35%. Consequently, shipping these vehicles has fallen considerably.The only order to take place earlier this year is one from NYK line for a large LCTC for $95 million.No deals have taken place since the beginning of the year, this is a figure we have not seen historically. A break of five months on the S&P side of things in the Vehicle carrier market. One of the main reasons for this low period and a fall in the values is the drop in rates for the 6…

ClassNK AIP to NYK Line, MTI for Autonomous Ship Framework

ClassNK granted an Approval in Principle (AiP) to NYK Line and MTI for their joint project on the concept design of an autonomous ship framework (development code “APExS”).In January 2020, ClassNK released its “Guidelines for Automated/Autonomous Operation of ships" which comprehensively summarize the requirements for each stage of conceptual design, design development, installation, and maintenance during the operation of automated/autonomous operation technologies.Jointly with NYK Line and MTI…

Image: Imarsat

Report Examines Maritime Digitalization in Japan

A new study, ‘A quiet revolution - the maritime innovation ecosystem in Japan’, explores the commitments to Internet of Things (IoT)-based ship and crew management already made by corporate Japan, then goes on to offer unique insights into the country’s emerging start-up culture.The report, sponsored by Inmarsat is the first in a series of in-depth profiles into maritime technology and start-ups in specific countries. It builds on ‘Trade 2.0: How start-ups are driving the next generation of maritime trade’…

Akihiro Mori, NYK’s first internally trained captain. Photo: NYK

An NYK First: Internally Trained Seafarer Promoted to Captain

In its storied 135-year history of NYK, Akihiro Mori now holds a distinguished place in the company, as effective April 1, 2020, Mori becomes the first internally trained seafarer promoted to captain.The story is an important one for the maritime industry as a whole, as the plight of the seafarer and the ongoing quest to find and groom the ‘next generation’ is universally shared in 2020.In fiscal 2006, NYK became the first shipping company in Japan to hire graduates from ordinary…

NYK Line Wins First Sustainability Loan in Japan

The Japanese shipping giant NYK Line has secured a syndicated sustainability-linked loan from MUFG Bank Ltd. This is Japan's first advanced loan that allows for conditions such as the loan’s interest rate to be adjusted according to the borrower’s CSR performance.This loan encourages sustainable economic activities and growth by linking loan pricing to company performance, which is determined by the score provided by CDP (Carbon Disclosure Project) annually.As long as high CDP ratings are maintained…

Sovcomflot Profits Up on Stronger Tanker Market

Russia's state-owned tanker carrier Sovcomflot (SCF Group) reported improvements on both the top and bottom line in the third quarter benefiting from a stronger tanker market.The energy shipping company posted a net profit of  $26m as revenue increased in the third quarter.Sergey Frank, Chairman of the Board of Directors of PAO Sovcomflot, said: “We are satisfied with the Group’s performance over the third quarter. Sovcomflot steadily follows through on its strategy of increasing the share of large-scale industrial shipping projects in its portfolio."He added: "During the reporting period…

Sovcomflot, NYK Pact on Financing 2 LNG Carriers

Russian maritime shipping company specializing in petroleum and LNG shipping Sovcomflot (SCF Group) and NYK Line have announced that they have signed a new $176 million non-recourse credit facility for eight years with three leading international banks.The banks are: Sumitomo Mitsui Banking Corp. of Japan (through its German subsidiary, SMBC Bank EU AG); Société Générale of France; and Shinsei Bank of Japan. The agreement was reportedly signed through joint venture companies belonging…

NYK Wins Seafarers Safety Award

Japanese shipping giant Nippon Yusen Kaisha (NYK Line) has been recognized with the 2019 Seafarers Safety Initiative Grand Prize awarded by Japan’s Ministry of Land, Infrastructure, Transport and Tourism (MLIT) for the company’s seafarer safety activities.The award recognizes NYK’s initiatives to prevent human accidents and utilize engine data.

NYK-Fil Celebrates Its 30th Anniversary

NYK-Fil Ship Management, the provider of qualified Filipino seafarers to international-going vessels of NYK Line, held a ceremony in Manila to celebrate the 30th anniversary of the company’s establishment and the completion of a renovation of the head office.The NYK Group company said in a press release that The ceremony was attended by Yasumi Kudo, NYK senior adviser; J. Roberto C. Delgado, chairman of the Philippine-owned business group  Transnational Diversified Group (TDG);  Josephine J.

Shin-Nippon Kaiyosha Starts Operations

Japanese shipping giant Nippon Yusen (NYK Line) announced that its two subsidiaries Wing Maritime Service Corporation and Kaiyo Kogyo Corporation that provide harbor tugboat and other related services, merged today to form Shin-Nippon Kaiyosha Corporation.The 100percent NYK owned Shin-Nippon Kaiyosha Corporation officially began operations yesterday (July 1, 2019), said the statement.Shin-Nippon president Yukihiro Tatara said: “Wing Maritime Service Corporation has mainly provided tugboat services and escort services in the Yokohama, Kawasaki, and Chiba areas.

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…

NYK Line Signs TC for Two LNG Carriers with Total

Japanese shipping giant NYK has signed a long-term contract with a unit of French energy giant Total to charter two liquefied natural gas (LNG) carriers.According to the contract, Total Gas & Power Chartering Ltd (TGPCL) will charter from NYK two newly built liquefied natural gas (LNG) carriers that will be built by Samsung Heavy Industries Co. Ltd. in Korea and scheduled for delivery in 2021.The two LNG carriers will be equipped with a WinGD-made dual-fuel slow-speed diesel engine (i.e.…

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.

NYK Signs LNG Charter Deal with Total

NYK Line has signed a contract with Total Gas & Power Chartering Limited (TGPCL), a subsidiary of Total, a leading oil and energy company headquartered in France.The contract calls for TGPCL to charter from NYK a newly built liquefied natural gas (LNG) carrier for seven years, with an optional extension period of one year. The new vessel will be built by Samsung Heavy Industries Co. Ltd. in Korea and is due to be delivered in 2021.The LNG carrier will be equipped with a WinGD-made dual-fuel slow-speed diesel engine (i.e.…

The newly built containership ONE Aquila was delivered in Hiroshima, Japan (Photo: ONE)

14,000-TEU ONE Aquila Delivered

Ocean Network Express Pte. Ltd. (ONE) announced it has taken delivery of the 14,00 TEU capacity ONE Aquila at Japan Marine United Corporation’s Kure Shipyard in Hiroshima.

Photo: GCT Global Container Terminals Inc

GCT Bayonne Welcomes the ONE Stork

GCT USA has welcomed the Ocean Network Express’ (ONE) first magenta ship on its first dual call to the most advanced terminal in the Port of New York and New Jersey, GCT Bayonne.Following the merger of NYK Line, Mitsui OSK, and “K” Line on April 1, 2018, ultra large container ship (ULCS) ONE STORK joined the Transport High Efficiency (“THE”) Alliance’s EC4 Asia-North America all-water Suez service on its maiden voyage to the East Coast.THE Alliance chose to host all of its Far East all water services at semi-automated GCT Bayonne, due to its award-winning high marine and landside productivity.

Greg Tuthill (Photo: SeaCube Container Leasing)

Tuthill Named COO of SeaCube Container Leasing

Greg Tuthill has been named Chief Commercial Officer of SeaCube Container Leasing Ltd., one of the largest global container leasing companies in the world.Brought on board to drive strategic global growth, Tuthill will lead SeaCube’s global sales, marketing and trading teams. He is responsible for the development and implementation of evolving business strategies designed to further SeaCube’s vision of being the customer’s first choice for refrigerated intermodal equipment while also driving company growth.Most recently serving as Senior Vice President and Chief Operating Officer…

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.…

NYK, Oyak to Build Car Terminal in Turkey

Turkey’s Oyak Group - owner of the country’s biggest steel producer, Erdemir Group - is to invest in a car logistics terminal in Yarimca port near Istanbul  in partnership with Japan’s Nippon Yusen Kaisha (NYK Line). According to a Reuters report, the investment will be $110 million. According to NYK press release, Süleyman Savaş Erdem, general manager of OYAK, and Koichi Chikaraishi, NYK representative director and senior managing corporate officer, were on hand for the signing ceremony held in Istanbul on April 5.

Port of Long Beach Welcomes ONE

For three Japanese ocean carriers combining their shipping container business into ONE, the future is bright and it comes in magenta. The future arrives this April. ONE stands for Ocean Network Express, a joint venture of “K” Line, Mitsui O.S.K. Lines and NYK Line that consolidates the three companies’ container shipping units into a single, integrated company. ONE chose the vibrant mix of purple and red to convey the energy and excitement of the new business model with a color that pops amid the muted blue and brown containers crossing the docks. “We’re very excited.

Hyundai Samho Heavy Bags USD 200mln Order for LNG Carrier

South Korean shipbuilder Hyundai Samho Heavy Industries (HSHI) has won a $ 200 million contract for the construction of a 174,000-cubic-meter LNG vessel for NYK Line, said a report in Yonhap. HSHI  is set to deliver a carrier that can hold 174,000 cubic meters of LNG to Japanese shipping company by 2020. The report said that it marked the first time that Hyundai Samho Heavy Industries has won an order from a Japanese company in 13 years. This year, Hyundai Samho Heavy Industries, an affiliate of Hyundai Heavy Industries (HHI), won orders to build seven vessels.

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…

Q4 2019  - Short Sea Shipping Ports