Japanese shipping powerhouse Nippon Yusen Kaisha (NYK) has revealed plans to merge three of its long-established subsidiaries — Asahi Shipping, Hachiuma Steamship, and Mitsubishi Ore Transport — into a unified organization that will operate under the new name NYK Bulkship Partners. This strategic consolidation, set to take effect on 1 April 2026, marks a significant milestone in Nippon Yusen Kaisha (NYK)’s efforts to strengthen its dry bulk division, streamline management structures, and enhance its presence in the global maritime market. The new entity, NYK Bulkship Partners, will combine the fleets, technical expertise, and operational frameworks of the three merging units to create one of Japan’s most influential and integrated bulk shipping operators. The new company will control 21 owned ships and oversee 90 additional ships under commercial and technical management. The leadership role will be assumed by Koichi Uragami, currently the president of Mitsubishi Ore Transport, whose decades of experience in ore and raw material transport operations have been instrumental in developing NYK’s bulk shipping portfolio. NYK Bulkship Partners is expected to serve as a central platform for managing a wide range of bulk carrier segments, from handy and panamax to capesize ships, covering major global trade routes between Asia, Australia, the Americas, and the Middle East. The new structure will allow Nippon Yusen Kaisha (NYK) to consolidate chartering, operations, technical management, and sustainability strategies under a single corporate umbrella, improving efficiency and competitiveness while reinforcing its ability to respond to fluctuating freight markets. The creation of NYK Bulkship Partners also symbolizes the end of several storied maritime legacies in Japan. Asahi Shipping, founded in 1946 and acquired by Nippon Yusen Kaisha (NYK) in 2002, was known for its long-standing commitment to bulk carrier operations and technical excellence. Hachiuma Steamship, one of Japan’s oldest names in shipping, dates back to 1861 and was absorbed by Nippon Yusen Kaisha (NYK) in 1964. Mitsubishi Ore Transport, a key provider of ore and raw material transport to the Japanese steel sector, has maintained strong partnerships with leading steel producers and trading houses for decades. By integrating these three entities, NYK Bulkship Partners will inherit a wealth of maritime experience and expertise accumulated over more than 150 years of Japanese shipping history. The new company will focus on digital transformation, decarbonization, and operational resilience. Its strategy is aligned with Nippon Yusen Kaisha (NYK)’s “Green Innovation” roadmap, emphasizing energy-efficient designs, next-generation propulsion systems, and dual-fuel technologies to support the International Maritime Organization’s decarbonization objectives. NYK Bulkship Partners will also pursue data-driven performance monitoring, predictive maintenance systems, and enhanced crew training programs to elevate safety and technical standards across its expanding fleet. This merger is part of Nippon Yusen Kaisha (NYK)’s long-term goal to consolidate its position as a global leader in dry bulk shipping, combining historical heritage with forward-looking innovation. Through NYK Bulkship Partners, the group aims to build a stronger, more flexible, and environmentally responsible organization capable of adapting to the evolving demands of international trade and maritime sustainability. 2-November-2025
Japanese shipping powerhouse Nippon Yusen Kaisha (NYK) has confirmed that the official debut of its newly merged dry bulk division, NYK Bulkship Partners, has been postponed from its original January 2026 start to 1 April 2026. The delay comes as the group finalizes the integration of three of its long-standing subsidiaries — Asahi Shipping, Hachiuma Steamship, and Mitsubishi Ore Transport — into a single, unified structure designed to streamline its dry bulk operations and strengthen its global competitiveness. The new organization, NYK Bulkship Partners, will be headed by Mitsubishi Ore Transport President Koichi Uragami, who brings decades of experience in managing ore and bulk carrier operations under the Nippon Yusen Kaisha (NYK) umbrella. Nippon Yusen Kaisha (NYK) said the revised launch schedule will allow for additional technical, operational, and administrative alignment between the merging entities, ensuring that the transition proceeds with maximum efficiency and minimal disruption. NYK Bulkship Partners is expected to debut as one of Japan’s largest integrated bulk carrier management organizations, overseeing 21 owned ships and managing a further 90 ships across a wide range of bulk carrier segments. The merged entity will handle fleet optimization, chartering, technical management, and sustainability initiatives under one consolidated framework, reflecting Nippon Yusen Kaisha (NYK)’s broader push to simplify its group structure and enhance operational agility. NYK Bulkship Partners will be headquartered in Tokyo and will coordinate global dry bulk activities across multiple regional offices, managing cargo movements of iron ore, coal, bauxite, and other essential commodities. The creation of NYK Bulkship Partners marks a significant evolution in Nippon Yusen Kaisha (NYK)’s dry bulk strategy. It combines the rich maritime heritage of its three historic subsidiaries — Asahi Shipping, founded in 1946; Hachiuma Steamship, with origins dating back to 1861; and Mitsubishi Ore Transport, a pivotal operator in Japan’s industrial raw materials supply chain. Each of these firms has played a crucial role in Japan’s post-war maritime development, and their unification under one operational roof represents both the end of an era and the beginning of a new phase of efficiency and scale. NYK Bulkship Partners will focus heavily on digital transformation and environmental innovation. Its roadmap includes the implementation of fleet performance analytics, data-driven voyage optimization, and the introduction of low- and zero-carbon ship technologies to meet the International Maritime Organization’s decarbonization goals. By consolidating resources, NYK Bulkship Partners aims to enhance fleet productivity, reduce operational costs, and expand its global commercial reach, particularly in key Asian, Australian, and Atlantic dry bulk trades. For Nippon Yusen Kaisha (NYK), this reorganization not only reflects a shift toward operational modernization but also reinforces Japan’s continued leadership in global shipping. NYK Bulkship Partners is poised to serve as a central pillar in Nippon Yusen Kaisha (NYK)’s long-term vision to develop a more sustainable, efficient, and globally integrated bulk shipping platform that bridges the legacy of Japan’s maritime excellence with the demands of a rapidly changing global trade landscape. 1-November-2025
NYK Bulk & Projects Carriers, the specialist division of Japanese maritime giant Nippon Yusen Kaisha (NYK), has arranged a charter for a kamsarmax bulk carrier from Athens-based and Nasdaq-listed shipowner and operator Diana Shipping Inc. (DSX), led by CEO Semiramis Paliou. Diana Shipping Inc. (DSX) confirmed the completion of a time charter deal with NYK Bulk & Projects Carriers, a subsidiary of Nippon Yusen Kaisha (NYK) that focuses on transporting bulk cargoes and project shipments requiring specialized handling. Nippon Yusen Kaisha (NYK), founded in 1885 and recognized as one of the most prominent shipping groups globally, is active across nearly all maritime segments, including container shipping, car carriers, tankers, dry bulk, and logistics services. Within this network, NYK Bulk & Projects Carriers has built a strong reputation in specialized sectors, operating a diverse fleet of multipurpose ships, heavy-lift ships, and bulk carriers designed to serve industries ranging from construction and mining to power generation, energy, and renewables. The subsidiary is well known for moving oversized cargoes, power plant components, and project-related industrial materials in addition to traditional bulk commodities, combining its bulk carrier operations with complex project cargo expertise. As part of the charter arrangement, NYK Bulk & Projects Carriers has taken the 2014-built 82K DWT kamsarmax bulk carrier MV Leonidas PC at a daily hire rate of approximately $14,000. The fixture will begin on September 24, 2025, running until at least September 15, 2026, with the option to extend until November 15, 2026. For the guaranteed minimum period, this agreement is expected to bring in about $4.93 million for Diana Shipping Inc. (DSX). This deal underscores Diana Shipping Inc. (DSX)’s policy of locking in steady long-term revenues through contracts with top-tier charterers, while also demonstrating NYK Bulk & Projects Carriers’ determination to strengthen its role in the dry bulk sector as a complement to its well-established project cargo operations. Greek shipowner and operator Diana Shipping Inc. (DSX) presently controls a fleet of 36 dry bulk carriers, consisting of 4 newcastlemax bulk carriers, 8 capesize bulk carriers, 4 post-panamax bulk carriers, 6 kamsarmax bulk carriers, 5 panamax bulk carriers, and 9 ultramax bulk carriers. The cooperation with NYK Bulk & Projects Carriers not only raises the profile of Diana Shipping Inc. (DSX) in the Japanese market but also reflects the continuous diversification of NYK Bulk & Projects Carriers, which bridges traditional dry bulk shipping with project cargo logistics, reinforcing its standing as one of the most flexible and strategic units within Nippon Yusen Kaisha (NYK). 25-September-2025
A US judge is preparing to consider issuing a default judgment against Indian ship operator Delta Corp Shipping in a legal dispute involving Japanese shipping giant Nippon Yusen Kaisha (NYK) Group subsidiary NYK Bulk & Projects Carriers. Delta Corp Holdings subsidiary Delta Corp Shipping has failed to appear in court proceedings in Los Angeles, where the case is being heard. The dispute revolves around the 2011 built supramax bulk carrier 58K DWT MV Iron Duke, which was operating on the Mississippi River at New Orleans in 2023. At the time of the charter conflict, NYK Bulk & Projects Carriers, a wholly owned subsidiary of Nippon Yusen Kaisha (NYK), held the ship on charter from RB British Marine of the UK and had subchartered it to Delta Corp Holdings subsidiary Delta Corp Shipping. US District Judge Monica Ramirez Almadani has set a hearing for 27 October 2025 to evaluate the request for a default ruling after Delta Corp Shipping failed to appear in court. This hearing comes as Delta Corp Shipping faces liquidation proceedings in Singapore. Lawyers representing NYK Bulk & Projects Carriers filed the motion in the US District Court for the Central District of California, seeking relief as part of a $1.05 million asset seizure case. The lawsuit was originally filed in September 2025, alleging Delta Corp Shipping defaulted on subcharter payments for the supramax bulk carrier MV Iron Duke. Attorneys from Simms Showers and McKasson & Klein, representing NYK Bulk & Projects Carriers, argued that their client has already incurred significant litigation expenses and that Delta Corp Shipping’s continued absence prevents judicial resolution of the dispute. The subsidiary of Nippon Yusen Kaisha (NYK) is currently seeking $358,000 in judgment, a reduced claim compared to the $1.05 million originally pursued. Judge Ramirez has not granted approval easily, striking down the default judgment request twice and demanding more detailed filings. While Delta Corp Shipping is undergoing insolvency proceedings in Singapore, the ship operator has not filed for Chapter 15 bankruptcy recognition in the United States, a necessary requirement for foreign insolvency cases to be formally recognized by US courts. NYK Bulk & Projects Carriers is a specialized division of Nippon Yusen Kaisha (NYK) focused on the transportation of bulk and project cargoes, including steel, heavy equipment, plant machinery, and oversized cargoes that require customized shipping solutions. With a fleet consisting of multipurpose heavy-lift ships, bulk carriers, and project cargo vessels, NYK Bulk & Projects Carriers plays a vital role in supporting Nippon Yusen Kaisha (NYK)’s global shipping operations across industrial and infrastructure sectors. Headquartered in Tokyo, NYK Bulk & Projects Carriers has expanded its operations worldwide, establishing regional offices and partnerships to serve diverse cargo needs for industries ranging from mining and steel production to power plant construction and offshore energy projects. The Los Angeles litigation represents the final active US federal case against Delta Corp Shipping following a string of lawsuits filed in 2024. Parent entity Delta Corp Holdings, which has shifted its focus toward fifth-party logistics and is seeking a reverse merger with Kaival Brands to obtain a New York listing, has been retreating from traditional shipping operations. Previous cases against Delta Corp Shipping have already been withdrawn, including NYK Bulk & Projects Carriers’ lawsuit in Delaware, Hangang Global Shipping’s $301,000 claim in New Jersey, and Lym Holdings’ $700,000 New York case, which was dropped after unsuccessful asset seizure attempts. Furthermore, another federal judge in New York dismissed OQ Trading’s $31.2 million lawsuit after no seizable assets were found. Through its persistence in litigation, NYK Bulk & Projects Carriers underscores its determination to enforce charter agreements and protect its financial interests, a reflection of Nippon Yusen Kaisha (NYK)’s long-standing reputation as one of the world’s leading shipowners and operators with a diversified portfolio that spans container shipping, bulk carriers, LNG carriers, car carriers, and specialized project cargo services. 14-September-2025
Japanese shipping giant Nippon Yusen Kaisha (NYK) is acquiring Kadmos, a global end-to-end maritime salary payments platform founded four years ago in Germany, with the transaction value undisclosed. This acquisition aligns with Japanese shipping giant Nippon Yusen Kaisha (NYK)’s broader strategy to digitalize maritime financial services and expand its global footprint in crew welfare solutions. In 2019, Japanese shipping giant Nippon Yusen Kaisha (NYK) established MarCoPay in Manila as a financial services platform, which has since grown to include loan and insurance products tailored to the well-being of Filipino seafarers and their families. MarCoPay serves shipowners and ship management companies employing Filipino crew members and has become the sole digital salary payments provider for Filipino seafarers, holding an electronic money issuer license from Bangko Sentral ng Pilipinas, the central bank of the Philippines. With the integration of Kadmos, Japanese shipping giant Nippon Yusen Kaisha (NYK) will extend its digital salary services to seafarers of all nationalities, creating a unified platform through enhanced collaboration between Kadmos and MarCoPay. In parallel, Japanese shipping giant Nippon Yusen Kaisha (NYK)’s dry bulk division, NYK Bulk & Projects Carriers Ltd, continues to operate as a core unit handling a wide array of bulk and project cargoes, supporting NYK’s diversified shipping activities across global trade routes. The acquisition of Kadmos complements NYK Bulk & Projects Carriers Ltd’s operations by strengthening crewing-related financial infrastructure, which is increasingly vital for maintaining seafarer satisfaction, operational efficiency, and compliance in a competitive global shipping environment. 24-June-2025
Japanese shipping giant Nippon Yusen Kaisha (NYK) has introduced the executive team for NYK Bulkship Partners, appointing Mitsubishi Ore Transport boss Koichi Uragami to lead the new entity. Japanese shipping giant Nippon Yusen Kaisha (NYK) is establishing a new presence in the dry bulk sector by merging three of its shipping and ship management subsidiaries. Asahi Shipping, Hachiuma Steamship, and Mitsubishi Ore Transport will be combined to create NYK Bulkship Partners. Nippon Yusen Kaisha (NYK) has officially named the leadership of the newly unified bulker business NYK Bulkship Partners. Nippon Yusen Kaisha (NYK) announced last week that it is consolidating its three dry bulk subsidiaries, Asahi Shipping, Hachiuma Steamship, and Mitsubishi Ore Transport (MOT), into one major market player under the name NYK Bulkship Partners. Nippon Yusen Kaisha (NYK) stated that the new organisation, currently operating under the provisional name NYK Bulkship Partners, is expected to begin operations in January 2026. 21-April-2025
Japanese shipping giant Nippon Yusen Kaisha (NYK) is introducing a new entity in the dry bulk sector through the merger of three of its shipping and ship management subsidiaries. Asahi Shipping, Hachiuma Steamship, and Mitsubishi Ore Transport will be integrated to form NYK Bulkship Partners. Headquartered in Tokyo, NYK Bulkship Partners will oversee a fleet of more than 90 ships, consisting of bulk carriers, car carriers, woodchip carriers, and Multi-Purpose Ships (MPPs), with 22 of those ships being owned. NYK Bulkship Partners is expected to become a major player in the global dry bulk shipping market, leveraging the combined strengths and expertise of its founding entities. The new entity will benefit from the deep operational experience of Asahi Shipping in managing bulk carriers, the legacy of Hachiuma Steamship in maritime logistics and chartering, and the specialized focus of Mitsubishi Ore Transport in transporting raw materials, particularly iron ore and coal for industrial clients. This consolidation allows Nippon Yusen Kaisha (NYK) to streamline operations, optimize cost structures, and enhance fleet utilization across multiple shipping segments. NYK Bulkship Partners will also focus on strengthening ship management systems, implementing advanced digital tools, and promoting sustainable practices in line with Nippon Yusen Kaisha’s (NYK’s) long-term environmental goals. NYK Bulkship Partners plans to incorporate next-generation ship technology, including energy-saving devices and fuel-efficient designs, across its fleet. As a wholly owned entity under Nippon Yusen Kaisha (NYK), NYK Bulkship Partners will act as a central pillar of the parent company’s dry bulk shipping strategy and reinforce its competitive position in the global shipping industry. “Through this merger, Nippon Yusen Kaisha (NYK) aims to further enhance the competitiveness in ship management, as well as in ship ownership and operations, by consolidating similar business functions and strengthening common ship management capabilities,” stated Japanese shipowner and operator Nippon Yusen Kaisha (NYK) in an official release. The formation of NYK Bulkship Partners is scheduled to take place in January 2026. Additional information regarding the structure of the new entity NYK Bulkship Partners and its leadership team will be shared following the conclusion of shareholder meetings at Asahi Shipping, Hachiuma Steamship, and Mitsubishi Ore Transport. 14-April-2025
Japanese shipowner and operator NYK (Nippon Yusen Kabushiki Kaisha) has successfully completed a substantial $886m share buy-back program over the past year, culminating in a series of transactions aimed at consolidating its financial base and enhancing shareholder value. This prominent Japanese shipowner and operator will now proceed to cancel 5.8% of its outstanding stock, reflecting a strategic move to optimize its equity structure and improve earnings per share. NYK (Nippon Yusen Kabushiki Kaisha), a leading figure in Japanese shipping, achieved its share buy-back target by investing $886m throughout the last 12 months. This goal was meticulously executed with the final purchases made on the Tokyo Stock Exchange from 1 to 4 April 2025, where NYK (Nippon Yusen Kabushiki Kaisha) reported the acquisition of 1.08 million shares during this period. The buy-back program is part of NYK’s broader strategy to adapt to the changing dynamics of the global shipping industry and maintain its competitive edge. The company has been focusing on diversifying its operations, including expanding into maritime logistics and energy transportation, which complements its traditional shipping business. This strategic diversification is designed to mitigate the risks associated with market volatility in the shipping sector and to tap into new growth areas. Additionally, NYK (Nippon Yusen Kabushiki Kaisha) is heavily invested in sustainability initiatives, aiming to reduce its environmental impact and comply with international regulations on emissions. Japanese shipowner and operator NYK (Nippon Yusen Kabushiki Kaisha) has been a pioneer in developing advanced technologies for energy-efficient ships and is actively involved in projects related to liquefied natural gas (LNG) and other cleaner energy sources. The decision to cancel shares and streamline its capital structure reflects NYK’s commitment to fiscal health and shareholder interests. This action is expected to strengthen the company’s financial standing and support its ongoing investments in innovation and sustainability, ensuring NYK (Nippon Yusen Kabushiki Kaisha) remains at the forefront of the shipping industry well into the future. 8-April-2025
Japanese shipowner and operator NYK (Nippon Yusen Kabushiki Kaisha) has acquired the Eneos shipowning venture in a transaction valued at over $500 million. This prominent Japanese shipowner and operator, NYK (Nippon Yusen Kabushiki Kaisha), has finalized deals to assume control of a diversified fleet including gas carriers, tankers, and bulk carriers. Tokyo-listed shipping behemoth NYK (Nippon Yusen Kabushiki Kaisha) has successfully completed the acquisition of a joint-venture shipowning company formerly partnered with Eneos Ocean Corp. NYK (Nippon Yusen Kabushiki Kaisha) is investing approximately $508 million to purchase an 80% stake in NYK Energy Ocean Corporation (NEO). This new entity was established in February 2025 after NYK (Nippon Yusen Kabushiki Kaisha) acquired all of Eneos’ ships in 2024, with the exception of its crude tankers. 5-April-2025
NYK Bulk & Projects Carriers, a subsidiary of the Japanese shipping giant Nippon Yusen Kaisha (NYK), is increasing its fleet of specialized cargo carriers with a new shipbuilding agreement in China. The company has tasked Dalian Shipbuilding Industry Co (DSIC) with the construction of a new 33K DWT deck carrier. This marks the first shipbuilding collaboration between Dalian Shipbuilding Industry Co (DSIC) and NYK. The deck carrier, designed by the China State Shipbuilding Corporation’s (CSSC) Shanghai Ship Research and Design Institute, is specifically engineered to transport large modular items such as components for offshore wind turbines and petrochemical modules. Currently, NYK Bulk & Projects Carriers operates two deck carriers, each with a capacity of 19K DWT, built in 2010. The new vessel, which will be classified by Japan’s ClassNK and fly the Panama flag, is set to join the fleet in 2027. 6-March-2025
Japanese shipowner and operator NYK Bulk (Nippon Yusen Kabushiki Kaisha) has announced the establishment of a new shipping subsidiary based in Yokohama. In July 2024, NYK Bulk (Nippon Yusen Kabushiki Kaisha) finalized a deal to acquire the majority of Eneos Ocean Corporation’s fleet, previously known as JX Ocean. NYK Bulk (Nippon Yusen Kabushiki Kaisha) acquired an 80% stake in a newly formed company that will oversee nearly 50 vessels, though this excludes Eneos Ocean’s crude tanker operations. The transaction has resulted in the creation of a subsidiary now named NYK Energy Ocean, which will manage 18 LPG carriers, 19 chemical and product tankers, and 12 bulk carriers. Koichi Chikaraishi, who brings extensive experience in the shipping industry, including his role as representative director and senior managing corporate officer of NYK (Nippon Yusen Kabushiki Kaisha), will serve as president of NYK Energy Ocean. 24-February-2025
Athens-based and Nasdaq-listed shipowner and operator Diana Shipping Inc. (DSX), under the leadership of Semiramis Paliou, has secured a time charter contract for one of its kamsarmax bulk carriers with NYK Bulk & Projects Carriers, a subsidiary of the Japanese shipowner and operator NYK (Nippon Yusen Kabushiki Kaisha). The 2013-built kamsarmax bulk carrier 82K DWT MV Myrto has been chartered to NYK Bulk & Projects Carriers for a daily gross charter rate of $12,000. The charter period extends from December 23, 2024, to at least March 1, 2026, with a potential extension to May 15, 2026. Over the minimum scheduled charter duration, NYK Bulk & Projects Carriers will pay approximately $5.1 million. NYK Bulk & Projects Carriers is a well-established entity within the maritime industry, specializing in the transport of bulk and project cargoes. As part of the larger NYK Group, which is one of the oldest and most prominent shipping companies in the world, NYK Bulk & Projects Carriers benefits from a rich heritage and deep expertise in shipping and logistics. The company operates a diverse fleet that includes bulk carriers, multi-purpose vessels, and heavy-lift vessels, allowing it to handle a wide range of cargo types, from traditional bulk commodities to complex project cargoes. The strategic focus of NYK Bulk & Projects Carriers is on providing tailored transportation solutions that meet the specific needs of its global clientele. This involves leveraging advanced vessel technology and innovative shipping practices to enhance efficiency and reduce the environmental impact of its operations. NYK Bulk & Projects Carriers is committed to sustainability and actively participates in initiatives aimed at reducing greenhouse gas emissions in line with international maritime regulations. In addition to its operational activities, NYK Bulk & Projects Carriers places a strong emphasis on safety and quality management. The company adheres to stringent safety standards to ensure the well-being of its crew and the integrity of the cargo it transports. This commitment to safety and quality is integral to maintaining NYK Bulk & Projects Carriers’ reputation as a reliable and responsible shipping partner. By partnering with Diana Shipping Inc. (DSX) for the charter of MV Myrto, NYK Bulk & Projects Carriers not only expands its capacity but also strengthens its competitive position in the kamsarmax segment, an important part of the global dry bulk shipping market. This collaboration underscores the company’s strategic approach to enhancing its service offerings and responding effectively to the dynamic demands of the maritime transport industry. 24-January-2025
NYK Bulkship Korea, a subsidiary of the Japanese shipping giant NYK (Nippon Yusen Kabushiki Kaisha), has completed the sale of the 1999-built capesize bulk carrier MV Oriental Navigator to a Chinese shipowner and operator. The MV Oriental Navigator has been a reliable asset for NYK Bulkship Korea. Originally added to the fleet of NYK Bulkship Korea in 2016 as the MV Stellar Navigator, this vessel has a storied history of service. Since the start of 2024, there have been a total of 13 transactions involving vintage capesize bulk carriers aged between 20 to 25 years. These vessels have predominantly been sold by Greek owners and purchased by Chinese operators for continued trading. NYK (Nippon Yusen Kabushiki Kaisha) is one of the oldest and largest shipping companies in the world, founded in 1885 and headquartered in Tokyo, Japan. It operates a diverse fleet that includes bulk carriers, tankers, and container ships, serving industries worldwide. NYK Bulk & Projects Carriers, another subsidiary of NYK (Nippon Yusen Kabushiki Kaisha), specializes in the transportation of heavy cargo, project cargo, and other specialized logistics services. This division leverages NYK’s (Nippon Yusen Kabushiki Kaisha’s) vast network and expertise to manage complex logistics challenges, often involving oversized cargo or intricate delivery requirements, demonstrating NYK’s (Nippon Yusen Kabushiki Kaisha’s) commitment to diversified marine transport solutions. 12-October-2024
The subsidiary of Japanese shipowner and operator NYK (Nippon Yusen Kabushiki Kaisha), NYK Bulk & Projects Carriers, has secured a time charter contract with Diana Shipping Inc. (DSX), which is based in Athens and listed in New York, for one of its capesize bulk carriers. NYK Bulk & Projects Carriers has chartered the capesize bulk carrier, the 2014-built 179K DWT MV G. P. Zafirakis, for approximately $26,500 daily for a term ranging from a minimum of 23 months to a maximum of 26 months. The Tokyo-based shipowner and operator NYK (Nippon Yusen Kabushiki Kaisha) through its subsidiary, NYK Bulk & Projects Carriers, announced that the charter for the MV G. P. Zafirakis would commence on September 9, 2024, and the company will pay about $18.5 million for the minimum duration of the charter. Previously, the 2014-built capesize bulk carrier 179K DWT MV G. P. Zafirakis was chartered to Solebay Shipping at a rate of $17,000 per day. Diana Shipping’s (DSX) fleet, under the leadership of Semiramis Paliou, will include 38 dry bulk carriers after this addition. Diana Shipping Inc. (DSX) is also set to receive two methanol dual fuel new-building kamsarmax bulk carriers by the fourth quarter of 2027 and the first quarter of 2028, respectively. Furthermore, in July 2024, NYK Bulk & Projects Carriers agreed to extend the charter for Diana Shipping’s (DSX) 2012-built newcastlemax bulk carrier 206K DWT MV Los Angeles at a higher daily rate. 27-August-2024
Masahiro Takahashi-led shipowner and operator NYK (Nippon Yusen Kabushiki Kaisha) has finalized a deal to charter a methanol dual-fuel ultramax bulk carrier in 2025. Japanese shipowner and operator NYK’s (Nippon Yusen Kabushiki Kaisha’s) subsidiary, NYK Bulk & Projects Carriers, will charter a newbuild 65K DWT methanol dual-fuel ultramax bulk carrier, which is currently under construction by compatriot shipowner Kambara Kisen at the renowned methanol-fuelled bulk carrier yard, Tsuneishi Shipbuilding. Upon its delivery in Q2 2025, this ultramax bulk carrier will be the first methanol-fuelled bulk carrier operated by NYK Bulk & Projects Carriers. NYK Bulk & Projects Carriers, a key subsidiary of NYK (Nippon Yusen Kabushiki Kaisha), specializes in the transportation of heavy and project cargo, as well as the operation of multipurpose and bulk carriers. The company has a strong presence in global logistics, offering customized shipping solutions that cater to diverse industrial sectors, including construction, energy, and manufacturing. With a focus on innovation and environmental sustainability, NYK Bulk & Projects Carriers has been increasingly investing in eco-friendly shipping technologies, aligning with NYK’s broader commitment to reducing its environmental impact. The introduction of this methanol dual-fuel ultramax bulk carrier into its fleet marks a significant step in NYK Bulk & Projects Carriers’ strategy to enhance its operational efficiency and sustainability. The ultramax bulk carrier is equipped with a dual-fuel main engine capable of using both methanol and fuel oil. The primary fuels are anticipated to be bio-methanol and e-methanol, produced using hydrogen derived from renewable energy sources and recovered carbon dioxide, according to Japanese shipowner and operator NYK (Nippon Yusen Kabushiki Kaisha). 20-August-2024
Japanese shipowner and operator NYK Bulk (Nippon Yusen Kabushiki Kaisha) has successfully renewed its time charter contract with Athens-based, New York-listed shipowner and operator Diana Shipping (DSX) for the 2012-built newcastlemax bulk carrier 206K DWT MV Los Angeles. The gross charter rate for the extension is set at $28,700 per day. The charter period will extend from a minimum of October 1, 2025, to a maximum of December 15, 2025. This renewed charter is slated to commence on July 18, 2024, seamlessly continuing from the existing charter, which currently operates at a daily rate of $17,700. Over the minimum scheduled period of the time charter, NYK Bulk (Nippon Yusen Kabushiki Kaisha) will pay approximately $12.5 million for the charter of MV Los Angeles. This arrangement underscores the ongoing relationship and trust between NYK Bulk (Nippon Yusen Kabushiki Kaisha) and Diana Shipping, reflecting the strength and stability of the global bulk shipping market. NYK Bulk (Nippon Yusen Kabushiki Kaisha) is a key division of Nippon Yusen Kaisha, one of the oldest and most prominent shipping companies in the world, which was founded in 1885. NYK Bulk specializes in the transportation of dry bulk commodities including iron ore, coal, and grains across global maritime routes. The company operates a large, diversified fleet of bulk carriers, ranging from handy size up to capesize and newcastlemax vessels, enabling it to cater to a wide range of cargo volumes and trade routes. NYK Bulk is renowned for its commitment to safety, environmental sustainability, and the implementation of cutting-edge technology in its operations, aligning with the broader corporate goals of NYK Group, which include ambitious environmental initiatives and pioneering the use of green technologies in the shipping industry. This commitment to innovation and sustainability positions NYK Bulk (Nippon Yusen Kabushiki Kaisha) as a leader in the maritime sector, capable of meeting the evolving demands of global trade while ensuring operational efficiency and environmental compliance. 5-July-2024
Japanese shipowner and operator NYK (Nippon Yusen Kabushiki Kaisha), in collaboration with compatriot shipbuilder Tsuneishi and British utility Drax Group, has embarked on a pioneering project to develop the world’s first biomass-fuelled vessel by the end of this decade. Under a memorandum of understanding, NYK Bulk & Projects Carriers (NYK Bulk) will work with these partners to initially develop an onboard biomass fuel plant necessary to power this innovative bioship. The partnership will also explore the integration of other renewable technologies to enhance environmental efficiency and reduce the fuel costs associated with shipping biomass. The increasing demand for biomass pellets in Japan, primarily sourced from North America where Drax operates facilities in both the US and Canada, underscores the significance of this project. These pellets are typically transported via smaller handysize bulk carriers, which face limitations in transitioning to lower-emission fuels like ammonia due to the restricted size of their fuel tanks. The proposed biomass fuel plant would employ a gasifier to burn biomass at high temperatures, producing gases such as carbon monoxide, hydrogen, and methane. These gases would power a generator to propel the vessel and supply a portion of its internal energy needs, as outlined by NYK Bulk & Projects Carriers (NYK Bulk). According to NYK Bulk & Projects Carriers (NYK Bulk), this installation could lead to a 22% reduction in well-to-wake carbon emissions compared to conventional fossil fuels. If successful, NYK Bulk & Projects Carriers (NYK Bulk) and Drax Group plan to further explore the feasibility of constructing a bioship by the end of 2029. This initiative is aligned with NYK’s (Nippon Yusen Kabushiki Kaisha) long-term goal of achieving net-zero greenhouse gas emissions by 2050 for the NYK Group’s ocean-going businesses. It also complements Drax’s strategy to reduce supply chain emissions and attain a carbon-negative status by 2030. Earlier in Q1 2024, Drax partnered with MOL Drybulk to transport wood pellets to Japanese biomass energy clients using a new fleet of ships equipped with MOL’s Wind Challenger hard sail, further illustrating the sector’s move towards sustainable shipping solutions. 15-May-2024
The German bulk carrier powerhouse Oldendorff, Japanese maritime firm NYK Line (Nippon Yusen Kabushiki Kaisha), Canadian mining leader Teck Resources, Mitsubishi Canada, and Mitsubishi Heavy Industries have formed a strategic alliance aimed at decarbonizing dry bulk supply chains. This collaboration, under the banner of the North Pacific Green Corridor Consortium (NPGCC), seeks to foster international cooperation and establish aggressive targets to achieve a net-zero carbon future across the entire supply chain, from producers to shippers to consumers. NYK Line (Nippon Yusen Kabushiki Kaisha), Oldendorff, Teck Resources, Mitsubishi Canada, and Mitsubishi Heavy Industries are uniting their efforts to significantly lower carbon emissions within the dry-cargo supply routes connecting North America and Asia. The members of the North Pacific Green Corridor Consortium (NPGCC) are committed to creating a decarbonized shipping corridor that will facilitate the eco-friendly transportation of key commodities such as agricultural products, metal concentrates, and steelmaking coal. This initiative represents a pivotal step in aligning industry practices with global environmental objectives, particularly in reducing the carbon footprint of critical international supply chains. 16-April-2024
New York-listed and Athens-based Diana Shipping (DSX), a prominent shipowner and operator, has recently finalized a new time charter agreement with Hong Kong’s Wah Kwong Maritime Transport Holdings Limited for a kamsarmax bulk carrier. The vessel in the spotlight, the MV Leonidas P. C., constructed in 2011 with a capacity of 82K DWT, has been chartered at a daily rate of $17,000. This agreement is scheduled to start on February 21, 2024, and will extend from August 20, 2025, to a maximum of October 20, 2025. Diana Shipping, led by Semiramis Paliou in Athens, anticipates this charter to yield about $9.2 million in gross revenue over its minimum duration. In the previous year, this same 82K DWT kamsarmax bulk carrier, MV Leonidas P. C., was chartered to Cargill at the same rate. Following the recent sale of the panamax bulk carrier MV Artemis, Diana Shipping’s fleet will encompass 39 dry bulk vessels, including four newcastlemax, nine capesize, five post-panamax, six kamsarmax, six panamax, and nine ultramax bulk carriers. With the inclusion of MV Artemis, the fleet’s total carrying capacity stands at approximately 4.5 million dwt, maintaining an average age of 10.64 years. Additionally, Diana Shipping had earlier announced a significant time charter contract with Japanese shipowner and operator NYK Bulk (Tokyo Stock Exchange-listed Nippon Yusen Kabushiki Kaisha’s subsidiary) for the 206K DWT newcastlemax bulk carrier MV Philadelphia, marking yet another strategic move by the Athens-based, New York-listed shipowner and operator. 11-February-2024
Diana Shipping, a shipowner and operator listed in New York and based in Athens, has finalized a time charter contract with the Japanese shipping giant Nippon Yusen Kaisha (NYK). This agreement encompasses the chartering of Diana Shipping’s 2012-built newcastlemax bulk carrier, the MV Philadelphia, which boasts a deadweight of 206K DWT. The vessel has been chartered at a daily gross rate of $22,500, for a term spanning from at least April 20, 2025, to no later than July 20, 2025, with operations commencing on February 5, 2024. This collaboration between Diana Shipping and Nippon Yusen Kaisha (NYK) is projected to generate an estimated $9.8 million in gross revenue for the minimum scheduled charter period. The completion of the sale of the MV Artemis, a panamax bulk carrier, will see Diana Shipping’s fleet under the leadership of Semiramis Paliou include 39 dry bulk ships. The fleet composition will feature four newcastlemax bulk carriers, nine capesize bulk carriers, five post-panamax bulk carriers, six kamsarmax bulk carriers, six panamax bulk carriers, and nine ultramax bulk carriers, thereby enhancing Diana Shipping’s capacity for growth and its footprint in the international maritime sector. 2-February-2024
Japanese shipowner and operator NYK Line (Nippon Yusen Kabushiki Kaisha) is embarking on an ambitious project to conduct extensive biofuel bunker trials starting in 2024. This initiative is driven by the need to gain more experience regarding the compatibility of biofuels with existing onboard machinery. Through these trials, NYK Line aims to deepen its understanding of biofuels as a viable alternative to traditional bunker fuels. NYK Line (Nippon Yusen Kabushiki Kaisha) plans to test biofuels over extended periods, with multiple ship types utilizing biofuel continuously for up to three months in each trial phase. Following these initial trials, NYK Line (Nippon Yusen Kabushiki Kaisha) intends to progressively increase the duration of biofuel use. This step-by-step approach will allow for comprehensive evaluation and validation of biofuels over longer periods, contributing significantly to the shipping industry’s knowledge base and efforts towards sustainable bunker solutions. 28-December-2023
Japanese shipowner and operator NYK Bulk (Nippon Yusen Kabushiki Kaisha), Oshima Shipbuilding, and Sumitomo have entered into a MoU (Memorandum of Understanding) to embark on a pioneering initiative to design and build the world’s inaugural ammonia dual fuel handymax bulk carrier, with the ambitious goal of achieving zero CO2 emissions.
This collaborative MoU follows another significant agreement from the previous year between the Chilean national copper company, CODELCO (Corporación Nacional del Cobre de Chile), and Japanese shipowner and operator NYK Bulk (Tokyo Stock Exchange-listed Nippon Yusen Kabushiki Kaisha’s subsidiary) to examine ways to transport copper products with minimal carbon footprint. The planned vessel is set to spearhead a dedicated fleet of 10 to 15 ammonia dual fuel handymax bulk carriers, managed by Japanese shipowner and operator NYK Bulk (Nippon Yusen Kabushiki Kaisha), for the purpose of shipping copper from Chile to Asian destinations. Oshima Shipbuilding will be responsible for the development and construction of these innovative ammonia dual fuel handymax bulk carriers. CODELCO (Corporación Nacional del Cobre de Chile) expressed the company’s commitment to leading the way in sustainable mining practices in Chile. CODELCO (Corporación Nacional del Cobre de Chile) views this project as a significant step towards demonstrating how energy transition and the reduction of GHG (greenhouse gas) emissions can be realized, setting an example for other industry players. 9-November-2023
Japanese shipowner and operator NYK (Nippon Yusen Kabushiki Kaisha) has made significant progress in its share buyback program, with the goal of repurchasing up to $1.3 billion worth of its own shares. In October 2023, NYK (Nippon Yusen Kabushiki Kaisha) bought back an additional 8.9 million shares valued at $2.3 billion through the Tokyo Stock Exchange. The share buyback program was authorized in August 2023 and is set to run until 30 April 2024. Tokyo Stock Exchange-listed NYK (Nippon Yusen Kabushiki Kaisha) aims to acquire a total of 85 million shares as part of this initiative, which represents approximately 16.7% of its outstanding shares. While Japanese shipowner and operator NYK (Nippon Yusen Kabushiki Kaisha) has made substantial progress toward its buyback goal, the company notes that its stock is relatively expensive, which may impact its ability to reach the full 85 million-share target. Nonetheless, Masahiro Takahashi-led shipowner and operator NYK’s (Nippon Yusen Kabushiki Kaisha) commitment to the buyback program reflects its efforts to enhance shareholder value and optimize its capital structure. 2-November-2023
The inaugural LNG-powered panamax bulk carrier has commenced operations, marking a milestone in eco-friendly shipping. Japanese shipowner and operator NYK Bulk (Nippon Yusen Kabushiki Kaisha) controlled 2023 built LNG-powered post-panamax bulk carrier 95K DWT MV Shoyo operates under a charter for Kyushu Electric Power (Kyuden). 2023 built LNG-powered post-panamax bulk carrier 95K DWT MV Shoyo, constructed at the Oshima Shipyard, recently underwent its initial LNG bunkering. Currently, LNG stands as the leading alternative bunker in the maritime sector, with methanol swiftly gaining ground as another preferable option. Peter Keller, the chairman of SEA-LNG, a prominent organization advocating for gas fuel, recently shared insights on the transition to environmentally sustainable bunkers. Peter Keller highlighted that the shift towards green bunker solutions wouldn’t be instantaneous. Rather, the industry will witness a gradual decarbonization of existing resources. This progressive change depends on the evolution of various factors including fuel production methods, transportation logistics, storage facilities, bunkering infrastructure, and advancements in engine technologies. 13-October-2023
Japanese shipowner and operator NYK Bulk (Nippon Yusen Kabushiki Kaisha) chartered 2017 built newcastlemax bulk carrier 208K DWT MV Newport News from Athens-based New York-listed shipowner and operator Diana Shipping (DSX) for gross charter rate of $20,000 daily. This engagement spans from a minimum tenure of 10 March 2025, to a potential culmination on 10 June 2025. The charter of 2017 built newcastlemax bulk carrier 208K DWT MV Newport News is projected to commence in the latter half of September 2023. Furthermore, Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) has procured a distinguished time charter accord with Paralos Shipping for the 2013 built panamax bulk carrier 77K DWT MV Ismene at a gross charter fee of $12,650 daily. This contract is stipulated to last at least until 15 April 2025, with a potential extension up to 30 June 2025. This charter is set to inaugurate on 14 September 2023. Per the Athens-based New York-listed shipowner and operator Diana Shipping’s (DSX) disclosure, the engagement of these two bulk carriers is foreseen to yield an approximate gross revenue of $17.8 million for the least scheduled duration of the charters. 15-September-2023
The eminent Japanese maritime firms, Nippon Yusen Kaisha (NYK) and Kawasaki Kisen Kaisha (K Line), have been subjected to a substantial penalty of approximately C$2 million by the Ontario Superior Court due to their complicity in a global conspiracy, which detrimentally impacted competitive shipping of vehicles to Canada. The automobile transporters, Nippon Yusen Kaisha (NYK) and Kawasaki Kisen Kaisha (K Line), confessed to a singular charge of conspiracy under the Canadian Competition Act and were thus mandated to remit C$1.5 million and C$460,000, in that order. Stemming from an incident in 2008, both Nippon Yusen Kaisha (NYK) and Kawasaki Kisen Kaisha (K Line) conceded to colluding with specific suppliers to escalate the foundational freight rates they presented to select automakers in Japan, pertaining to the provision of roro services destined for Canada. Additionally, Kawasaki Kisen Kaisha (K Line) accepted guilt for a single act of bid-rigging, acknowledging their involvement in a scheme regarding a General Motors Company (GMC) tender for roro transportation services, which encompassed voyages from South Korea to Canada during 2011-2012. Given their past entanglements, Nippon Yusen Kaisha (NYK) and Kawasaki Kisen Kaisha (K Line), in vehicle carrier cartel probes across numerous territories, both entities were granted a degree of leniency in their judicial outcomes due to their collaboration with the Competition Bureau’s inquiries. Matthew Boswell, the Commissioner of Competition, articulated, “Our meticulous scrutiny into global shipping stratagems proclaims an unequivocal decree to the international business sphere: any commerce conducted within Canada’s borders mandates strict adherence to our laws. Eradicating illicit collaborations remains paramount for the Bureau.” 21-August-2023
Japanese shipowner and operator NYK Bulk (Nippon Yusen Kabushiki Kaisha) shall implement a wind-assisted ship-propulsion apparatus on a bulk carrier engaged in a long-term charter contract with dry bulk shipping behemoth Cargill Ocean Transportation. Belgium-based Japanese shipowner and operator NYK Bulk (Tokyo Stock Exchange-listed Nippon Yusen Kabushiki Kaisha’s subsidiary) has opted for the VentoFoil wind-assisted propulsion system, manufactured by Econowind in the Netherlands. VentoFoil boasts a soaring 16-meter vertical wing, akin to a majestic sail. Much like the aerodynamic principle of an airplane wing, VentoFoil harnesses the pressure difference on both sides of the wing to generate its propulsion. The ingenious apparatus welcomes the wind through its suction port, skillfully amplifying the pressure difference to achieve greater impetus. Despite its efficacy, VentoFoil wind-assisted propulsion system maintains a compact design, distinguishing it from similar equipment, thus minimizing interference with cargo handling. Furthermore, VentoFoil wind-assisted propulsion system’s installation and relocation process are remarkably uncomplicated. 25-July-2023
Tokyo Stock Exchange-listed Japanese shipping giant NYK Line (Nippon Yusen Kabushiki Kaisha) reported an operating profit of $1.1 billion for H1 2022. NYK Line (Nippon Yusen Kabushiki Kaisha) reported revennue of $9.2 million for H1 2022. Hitoshi Nagasawa-led NYK Line (Nippon Yusen Kabushiki Kaisha) increased the company’s operating profits by 38.5% in H1 2022 and reported a 92.7% increase in recurring profit despite demand slowing in the container and dry bulk sectors. Japanese shipowner and operator NYK Bulk (Nippon Yusen Kabushiki Kaisha) is part of the Tokyo Stock Exchange-listed Japanese shipping giant NYK Line (Nippon Yusen Kabushiki Kaisha). NYK Line (Nippon Yusen Kabushiki Kaisha) states container shipping business climate is altering but freight rates were maintained in H1 2022. 7-November-2022
Japanese shipowner and operator NYK Bulk (Nippon Yusen Kabushiki Kaisha) ordered two (2) LNG-fuelled large coal carriers 95K DWT at Oshima Shipbuilding. NYK Bulk (Nippon Yusen Kabushiki Kaisha) will take the delivery of the two (2) LNG-fuelled large coal carriers in 2025. LNG-fuelled large coal carriers are part of NYK Bulk’s (Nippon Yusen Kabushiki Kaisha) transition to zero-carbon operations. Japanese shipowner and operator NYK Bulk (Nippon Yusen Kabushiki Kaisha) is part of the Tokyo Stock Exchange-listed Japanese shipping giant NYK Line (Nippon Yusen Kabushiki Kaisha). NYK Bulk (Nippon Yusen Kabushiki Kaisha) selects LNG as a pathway to decarbonization. The LNG-fuelled large coal carriers are part of a bulk carrier fleet renewal program. Tokyo-based NYK Bulk (Nippon Yusen Kabushiki Kaisha) aimed at performing net-zero GHG (Greenhouse Gas) emissions by 2050. 2-November-2022
Japanese shipowner and operator NYK Bulk (Nippon Yusen Kabushiki Kaisha) and MOL (Mitsui O.S.K. Lines) cooperate to decrease carbon emissions. Tokyo Stock Exchange-listed Japanese shipping giant MOL (Mitsui O.S.K. Lines) ordered one more hard sail ultramax bulk carrier. On the other hand, Tokyo Stock Exchange-listed Japanese shipping giant NYK Line (Nippon Yusen Kabushiki Kaisha) draws up plans to upgrade the company’s dry bulk fleet. Japanese shipowner and operator MOL (Mitsui O.S.K. Lines) ordered one more ultramax bulk carrier newbuilding using hard sail energy efficiency technology. The newbuilding will become the second hard sail fitted ultramax bulk carrier that MOL (Mitsui O.S.K. Lines) ordered to carry wood pellet for US sustainable energy company Enviva. 62K DWT hard sail fitted ultramax bulk carrier will be owned and operated through subsidiary MOL (Mitsui O.S.K. Lines) Dry Bulk which has placed the order at Oshima Shipbuilding. MOL (Mitsui O.S.K. Lines) Dry Bulk will take the delivery of a 62K DWT hard sail fitted ultramax bulk carrier in 2024. In October 2021, MOL (Mitsui O.S.K. Lines) Dry Bulk take the delivery of the first hard sail fitted ultramax bulk carrier. 12-August-2022
Japanese shipowner and operator NYK Line (Nippon Yusen Kabushiki Kaisha) is selling 2011 built capesize bulk carrier 181K DWT MV Frontier Phoenix is expected to set a new benchmark in the S&P (Sale and Purchase) market as spot rates for capesize bulk carriers climbed their most robust levels in a decade. NYK Line (Nippon Yusen Kabushiki Kaisha) controlled MV Frontier Phoenix has been inspected by five (5) shipowners. Since the beginning of 2021, 71 capesize bulk carriers have been reported sold. The Baltic Dry Index (BDI) reached 4,147 points for the first time since 2010 due to rising commodity demand and coronavirus-related supply chain disruption. Capesize bulk carriers have been most severely affected by coronavirus-related congestions. 22-August-2021
Japanese shipowner and operator NYK Line (Nippon Yusen Kabushiki Kaisha) controlled 2006 built woodchip carrier 49K DWT MV Crimson Polaris grounded off Hachinohe Port in Japan. MV Crimson Polaris broke into two parts. MV Crimson Polaris’s all crew members have been rescued. 2006 built woodchip carrier 49K DWT MV Crimson Polaris grounded in severe weather circumstances. However, MV Crimson Polaris was later refloated under its main engine. The break-up of the woodchip carrier MV Crimson Polaris was assumed to be a consequence of it having undergone a weakened hull generated by a notable crack as a consequence of the grounding. Japanese shipowner and operator NYK Line controlled 2006 built woodchip carrier 49K DWT MV Crimson Polaris is owned by Mi-Das Line, a subsidiary of Doun Kisen Kaisha. MV Crimson Polaris was carrying a 44K tons cargo of woodchips loaded in Thailand. MV Crimson Polaris’s P&I (Protection and Indemnity) cover is with Japan P&I Club. 10-August-2021
Japanese shipowner and operator NYK Bulk & Projects sold 2005 built handymax bulk carrier 31K DWT MV Lodestar Princess to an undisclosed Vietnamese shipowner for about $6 million. In 2005, MV Lodestar Princess was constructed at Hakodate Dock Shipbuilding, Japan. NYK Bulk & Projects frequently sell off bulk carriers when they reach the 15-year age mark and prefers to keep a modern fleet. Currently, NYK Bulk & Projects has a fleet of 35 ships. 12-December-2019
Japanese shipowner and operator NYK Bulk (Nippon Yusen Kabushiki Kaisha) has merged a global action to capture ship carbon emissions as dry ice for storage in sea-floor sediments. NYK Bulk (Nippon Yusen Kabushiki Kaisha) joins the DecarbonICE project to study the feasibility of the technology. The DecarbonICE project will be executing a feasibility analysis of the technique. Furthermore, the main company NYK Line (Nippon Yusen Kabushiki Kaisha) signs a sustainability loan for $456 million as UECC scored green finance. DecarbonICE project was launched on 1 October by the Denmark-based Maritime Development Center, which has teamed with shipping companies, shipyards, and others. During the examination, CO2 in the vessel exhaust will be captured on board in a cryogenic process and turned into dry ice. Japanese shipowner and operator NYK Bulk (Nippon Yusen Kabushiki Kaisha) explained that the dry ice will then be transported into seafloor sediments during normal vessel operations. Tokyo Stock Exchange-listed shipowner and operator NYK Bulk (Nippon Yusen Kabushiki Kaisha) will resume its efforts to lower CO2 emissions through initiatives such as the introduction of new technology and bunker modification. 5-December-2019
Japanese shipowner and operator NYK Bulk (Nippon Yusen Kabushiki Kaisha) states that Japan’s shipyards build the world’s best-quality ships Japanese shipowner and operator NYK Bulk (Nippon Yusen Kabushiki Kaisha) comments that this is a fact widely acknowledged and is reflected in the secondhand price premium of Japan built ships. However, high labor costs mean Japan’s shipbuilders are pricing themselves out of the market. Meanwhile, Japan’s major shipowners resume streamlining their once bloated operations. Japanese shipowner and operator NYK Bulk (Nippon Yusen Kabushiki Kaisha) reaffirmed the company’s aim to reshape its large dry bulk division as an asset-light shipowner. Tokyo Stock Exchange-listed shipowner and operator NYK Bulk (Nippon Yusen Kabushiki Kaisha) wants to rely on more chartered tonnage to cover cargo demands rather than the company’s dry bulk fleet. On the other hand, Japan’s regional banks notice lending to overseas shipowners as a possible growth area, offering overseas shipowners higher yields for their huge capital reserves, which are presently being pressed by Japan’s negative interest rate circumstances. 19-November-2019
Coal remains the most significant major cargo for Southeast Asian countries. Currently, Vietnam is the main driver of the coal trade. Vietnam turned from coal exporter to importer country on increasing industrial growth. In Vietnam, there is no political will to invest in greener fuels means that coal will be around for an unforeseeable future. Lately, Japanese giant shipowner and operator NYK Bulk (Nippon Yusen Kabushiki Kaisha) signed a 25-year bulker contract in Vietnam to carry coal.
In the last decades, the use of coal has significantly declined in western countries, but coal continues to be a major component of power generation in Southeast Asia. Especially in power generation, coal will continue to be the dominant fuel source in Southeast Asia. Coal usage will be peaking in 2027. In order to meet the rapidly increasing power demand, Southeast Asia will have to invest an average of $17 billion annually in power capacity. More than 60% of Vietnam’s coal imports are carried on supramax bulk carriers. Coal still has a role to play over the next 20 years in Southeast Asia, despite all environmental concerns. Coal is still the cheapest and easiest source of energy, and especially in developing countries like Vietnam, there is still not enough political will to heavily invest in environmentally friends but more expensive alternatives like LNG (Liquefied Natural Gas). In 2015, Vietnam was a net coal exporting country. Vietnam turned from being a net coal exporter to a coal importing country in a couple of years.
In 2018, Vietnam imported more than 23 million metric tonnes of coal. Vietnam has a population of 97 million with GDP growth around 7%. Vietnam estimates that power generation will need to rise:
- 47 gigawatts in 2019
- 60 gigawatts in 2020
- 130 gigawatts in 2030
Vietnam’s coal power generation is expected to grow from the current 33% to 56% by 2030. Currently, Vietnam has more than 20 coal-fired power plants. Vietnam’s coal-fired power plants will increase to 32 by 2020 and to 51 by 2030. In other words, In 2018, Vietnam will be importing more than 80 million metric tonnes of coal per year.
Currently, Vietnam imports coal from:
- Indonesia and Australia 72%
- Russia 16%
- South Africa 7%
Due to the draft limitations in ports of Vietnam, coal has to be carried by supramax bulk carriers. NYK Bulk (Nippon Yusen Kabushiki Kaisha) signed a 25-year contract of affreightment (CoA) with the Vietnamese government to carry coal. 8-October-2019
Chinese dry bulk shipowners in Fuzhou and Ningbo have been active in the secondhand market. Chinese dry bulk shipowners in Fuzhou and Ningbo have been acquiring old dry bulk carriers over the past week. Price-sensitive Chinese dry bulk shipowners are still encountering bargains. 2005 built post-panamax bulk carrier 91K DWT MV Duke Orsino (ex-MV Shiramizu) was badly damaged in 2011. A Chinese dry bulk shipowner in Fuzhou acquired the 2005 built post-panamax bulk carrier 91K DWT MV Duke Orsino (ex-MV Shiramizu) for around $11 million. 2005 built post-panamax bulk carrier 91K DWT MV Duke Orsino (ex-MV Shiramizu) was sailing in the fleet of Japanese shipowner and operator NYK Bulk (Nippon Yusen Kabushiki Kaisha) in 2011. MV Duke Orsino (ex-MV Shiramizu) was one of several bulk carriers that were damaged in that year’s Tohoku earthquake and tsunami in Japan. In 2011, Japanese shipowner and operator NYK Bulk (Nippon Yusen Kabushiki Kaisha) controlled 2005 built post-panamax bulk carrier 91K DWT MV Duke Orsino (ex-MV Shiramizu) was caught at the quayside in the port of Shinshi during the discharge of a coal cargo, MV Duke Orsino (ex-MV Shiramizu) was grounded and ultimately broke in two. Since 2015, MV Duke Orsino (ex-MV Shiramizu) has been in the fleet of South Korean one-ship company KD Ocean. 24-September-2019
Japanese shipowner and operator giant NYK Bulk (Nippon Yusen Kabushiki Kaisha) signed a 25-year contract to carry coal to Vietnam. Tokyo listed shipping giant NYK Bulk (Nippon Yusen Kabushiki Kaisha) Bulk clinched a 25-year contract to carry coal Van Phong Power Company which is a wholly-owned subsidiary of Sumitomo Corporation. Van Phong Power Company has been constructing a new coal-fired power station in Vietnam. NYK Bulk (Nippon Yusen Kabushiki Kaisha) Bulk will start carrying coal from 2023 and cargo volumes are expected to be up to 3.4 million tons per year. Van Phong Power Company is planning to import coal mainly from Indonesia and Australia. The new coal-fired power plant in the Van Phong Special Economic Zone in Vietnam’s Khanh Hoa province. According to calculations, Vietnam’s future supply of electricity may not be adequate to meet the demands of the country’s rapid economic growth. Established in 1885 in Chiyoda, NYK Bulk (Nippon Yusen Kabushiki Kaisha) has been trying to maintain and expand long-term contracts in the dry bulk division. 19-September-2019
Japanese shipowner and operator NYK Bulk (Nippon Yusen Kabushiki Kaisha) ordered 211K DWT newcastlemax bulk carrier at Japan Marine United (JMU Corp). Tokyo Stock Exchange-listed shipowner and operator NYK Bulk (Nippon Yusen Kabushiki Kaisha) increased deadweight with lowered bunker consumption of newcastlemax bulk carrier. After delivery in 2021, 211K DWT newcastlemax bulk carrier will be fitted with a scrubber. Japanese shipowner and operator NYK Bulk (Nippon Yusen Kabushiki Kaisha) will charter out 211K DWT newcastlemax bulk carrier to JFE Steel Corp on a long-term deal. Japanese shipowner and operator NYK Bulk (Nippon Yusen Kabushiki Kaisha) aims to use 211K DWT newcastlemax bulk carrier for coal transport, where bulk carriers are subjected to harsh corrosion due to the sulphuric acid originating from the sulphuric contents of the coal. 28-August-2019
Japanese shipowner and operator NYK Bulk (Nippon Yusen Kabushiki Kaisha) ordered new eco-friendly heavy-lift ships at Jinling Shipyard. Jinling Shipyard is under the control of China Merchants Industry Holdings, part of state conglomerate China Merchants Group. Tokyo Stock Exchange-listed shipowner and operator NYK Bulk (Nippon Yusen Kabushiki Kaisha) eyes a competitive edge with eco heavy-lift orders in China. Japanese shipowner and operator NYK Bulk (Nippon Yusen Kabushiki Kaisha) renews its fleet with the new building order at Jinling Shipyard for next generation, energy-saving two (2) 12K DWT new building eco-friendly heavy-lift ships. Tokyo-based shipowner and operator NYK Bulk (Nippon Yusen Kabushiki Kaisha) will take the delivery of two (2) 12K DWT new building eco-friendly heavy-lift ships in August 2021 and January 2022. NYK Bulk (Nippon Yusen Kabushiki Kaisha) has two (2) options. The NYK Group subsidiary NYK Bulk (Nippon Yusen Kabushiki Kaisha) expressed the new building eco-friendly heavy-lift ships are part of NYK Bulk’s (Nippon Yusen Kabushiki Kaisha) fleet renewal programme. The NYK Group subsidiary NYK Bulk (Nippon Yusen Kabushiki Kaisha) has been looking to replace 1994 built heavy-lift ship 9K DWT MV Kibi (built 1994) and 1998 built heavy-lift ship 9K DWT MV Kamo for several years. Currently, the NYK Group subsidiary NYK Bulk (Nippon Yusen Kabushiki Kaisha) controls about 40 heavy-lift ships. NYK Bulk (Nippon Yusen Kabushiki Kaisha) controlled 40 heavy-lift ships that were all built in Japan. Jinling Shipyard has adequate experience in assembling heavy-lift ships. NYK Bulk (Nippon Yusen Kabushiki Kaisha) has been witnessing increasing heavy-lift ship companies ordering their vessels in China. NYK Bulk (Nippon Yusen Kabushiki Kaisha) ordered two (2) 12K DWT new building eco-friendly heavy-lift ships with two (2) 400-tonne cranes that are capable of lifting 800 tonnes of cargo. NYK Bulk (Nippon Yusen Kabushiki Kaisha) ordered two (2) 12K DWT new building eco-friendly heavy-lift ships according to Energy Efficiency Design Index phase 3 prerequisites. Japanese shipowner and operator NYK Bulk (Nippon Yusen Kabushiki Kaisha) was formed through the merger of NYK Global Bulk and Hinode Line. Currently, YK Bulk (Nippon Yusen Kabushiki Kaisha) operates a fleet of 157 ships. 23-August-2019
Japanese shipowner and operator NYK Line (Nippon Yusen Kabushiki Kaisha) reported a profit of $88 million for Q2 2019. In Q2 2019, NYK Line’s (Nippon Yusen Kabushiki Kaisha) liner trade segment reported $17.5 million in recurring profit. In Q2 2019, NYK Line’s (Nippon Yusen Kabushiki Kaisha) bulk shipping recurring profit which is consisting of dry bulk, gas, and oil was at $84.7 million. Meanwhile, NYK Line’s (Nippon Yusen Kabushiki Kaisha) logistics business broke even and NYK Line’s (Nippon Yusen Kabushiki Kaisha) air cargo segment lost $14.7 million. NYK Line’s (Nippon Yusen Kabushiki Kaisha) liner business stated affiliate ONE (Ocean Network Express) noticed growth in overall liftings, slot utilization, and freight rates. NYK Line’s (Nippon Yusen Kabushiki Kaisha) bulk shipping, and car transportation had a robust quarter, while the Japanese shipowner and operator NYK Bulk (Nippon Yusen Kabushiki Kaisha) scrapped bulk carriers and the sector resumes to flounder. Both NYK Line’s (Nippon Yusen Kabushiki Kaisha) LPG and LNG had solid quarters. Japanese shipowner and operator NYK Line (Nippon Yusen Kabushiki Kaisha) stated, with long-term LNG contracts yield stable earnings. 1-August-2019
Japanese shipowner and operator NYK Bulk (Nippon Yusen Kabushiki Kaisha) goes cashless with a new crew mobile phone application. NYK Bulk (Nippon Yusen Kabushiki Kaisha) cooperates with Accenture, Citi, and TDG for the new crew mobile phone application. Tokyo Stock Exchange-listed shipowner and operator NYK Bulk (Nippon Yusen Kabushiki Kaisha) has started a new joint venture to introduce a mobile phone application that will accomplish away with cash for sailors. Tokyo-based shipowner and operator NYK Bulk (Nippon Yusen Kabushiki Kaisha) cooperated with the Philippines-based Transnational Diversified Group (TDG) to embark electronic money platform MarCoPay. NYK Bulk’s (Nippon Yusen Kabushiki Kaisha) highly-secure platform strives to improve the lives of sailors and their families. NYK Bulk’s (Nippon Yusen Kabushiki Kaisha) new crew mobile phone application is planned to launch in January 2020, with the help of Accenture and Citi Bank. Currently, NYK Bulk’s (Nippon Yusen Kabushiki Kaisha) new crew mobile phone application is developed specifically for sailors hired outside Japan to make digital payments and withdraw cash on a mobile phone. By utilizing MarCoPay, NYK Bulk’s (Nippon Yusen Kabushiki Kaisha) crew members will receive their wages and buy daily supplies on vessels. Furthermore, NYK Bulk’s (Nippon Yusen Kabushiki Kaisha) crew members can go cashless on board and send money to their home nations and withdraw cash from ATMs anywhere in the world. Japanese shipowner and operator NYK Bulk (Nippon Yusen Kabushiki Kaisha) calculated that total cash on fleet around the world amounts to about $800 million every year, and expenses associated with money transfers are very high. The MarCoPay venture will ultimately grow its network to third-party shipowners and ship managers while resuming to add new functions. Japanese shipowner and operator NYK Bulk (Nippon Yusen Kabushiki Kaisha thinks MarCoPay will change into a global platform that will support the lives of sailors and their families around the globe. Furthermore, another company ShipMoney rolled out an electronic payment solution on 90 vessels. 25-July-2019
Shipping technology alliance One Sea is to cooperate with the European Space Agency (ESA) to develop autonomous ships. MOI (Memorandum of Intent) that includes forthcoming partnership has been signed by One Sea coordinator DIMECC which is a research and innovation organization in Finland. DIMECC’s Jaakonmeri trial zone off western Finland will be utilized for autonomous ships. One Sea members include ABB, Kongsberg Maritime, and Wartsila, who conducted independent autonomous ship trials off the Finnish and Norwegian coasts. In June, Inmarsat and Japanese shipowner and operator NYK Bulk”s (Nippon Yusen Kabushiki Kaisha) research subsidiary Monohakobi Technology Institute became full partners, and the Royal Institution of Naval Architects (RINA) signed up as an associate member. 1-July-2019
Japanese shipowner and operator NYK Bulk (Nippon Yusen Kabushiki Kaisha) signed the IMO (International Maritime Organization) 2020 deal with Chinese repair yards. NYK Bulk (Nippon Yusen Kabushiki Kaisha) signed a 50-ship deal with Chinese repair yards to fit BWTS (ballast water treatment systems) and scrubbers to some of NYK Bulk’s (Nippon Yusen Kabushiki Kaisha dry bulk fleet. Japan’s big three shipping companies commenced steps to comply with IMO (International Maritime Organization) 2020 Regulations. Currently, Tokyo Stock Exchange-listed shipowner and operator NYK Line (Nippon Yusen Kabushiki Kaisha) which controls around 750 vessels. NYK Line (Nippon Yusen Kabushiki Kaisha) is leveraging the company’s significant purchasing capacity to strike a price-competitive, all-inclusive bulk carrier deal with the unnamed Chinese yards at a time when dry-dock space is inadequate. Japanese shipowner and operator NYK Bulks’ (Nippon Yusen Kabushiki Kaisha deal mostly involves fitting scrubbers to the NYK Bulks’ (Nippon Yusen Kabushiki Kaisha capesize bulk carriers and VLOCs (Very Large Ore Carriers), including owned ships or those controlled through long-term charters by NYK Bulk (Nippon Yusen Kabushiki Kaisha) out of its fleet of 400 bulk carriers. Japanese shipowner and operator NYK Bulk (Nippon Yusen Kabushiki Kaisha) ordered installations to be organized during special survey dry-dockings when BWTS (ballast water treatment systems) are also due to be fitted. Japanese shipowner and operator NYK Bulk (Nippon Yusen Kabushiki Kaisha) hedges the IMO (International Maritime Organization) 2020 Regulations risk by committing some of the bulk carriers to operate high-sulfur bunkers and scrubbers, with the rest using low-sulfur bunkers. Tokyo-based shipowner and operator NYK Bulk (Nippon Yusen Kabushiki Kaisha) has already reportedly secured low-sulphur bunker oil through the fuel futures market ahead of the MO (International Maritime Organization) 2020 Regulations January deadline. Tokyo Stock Exchange-listed shipowner and operator NYK Bulk (Nippon Yusen Kabushiki Kaisha) secured an $80 million green syndicated loan to fit NYK Bulk”s (Nippon Yusen Kabushiki Kaisha)ships with scrubbers. The scrubber installation scheme also suits NYK Bulk’s (Nippon Yusen Kabushiki Kaisha) medium-term enterprise strategy. 22-April-2019
Japanese giant shipowner and operator NYK Bulk’s (Nippon Yusen Kabushiki Kaisha) sister company Asahi Shipping ordered 98K DWT coal carrier Tier III-compliant at Japanese Shipyard Oshima Shipbuilding for delivery in Q1 2021. 98K DWT coal carrier ordered on the back of a long-term charter contract with Kobe Steel. In Q1 2021, 98K DWT coal carrier will transport coal from locations outside Japan to mainly the city of Kobe under the 20-year charter. 27-June-2018
Japanese NYK Bulk (Nippon Yusen Kabushiki Kaisha) scrapped in an en-bloc deal to Chinese Scrapyard. Japanese NYK Bulk (Nippon Yusen Kabushiki Kaisha) disposed of 2001 built 229K DWT M/V Onga and 1996 built 151K DWT M/V Shin Ondo for $10.3 million in total. Japanese NYK Line (Nippon Yusen Kabushiki Kaisha) gets guaranteed green recycling from the Chinese Scrapyard. 16-May-2016
The first special passage from the extended Panama Canal will be on 26 June 2016, and Panama Canal Authority is holding a lottery to pick the first ship. Big operator names in the lottery include MSC, NYK, MOL, CMA CGM, Hamburg Sud, Maersk Line and Hapag-Lloyd. Neopanamaxes maximum beam of 49 meters and a maximum total length of 366 meters will be also in drawing. 26-April-2016
Piraeus based LA Maritime acquired 2004 built supramax bulk carrier 53K M/V Global Island for $3.7 million from Japanese shipowner NYK Bulk (Nippon Yusen Kabushiki Kaisha). Greek-Syrian shipowners LA Maritime previously linked to SMC (Shehadah Maritime Company) owned by Captain Mustafa Shehadah and lbrahim Shehadah. LA Maritime is not the only company with a Syrian background in Greece. Prelude Marine is also linked to Tartous, Syria based Yass Marine and Ghandourah Group. 28-March-2016