Nisshin Shipping, a Tokyo-based entity, is a significant player in the global shipping sector, known for its diversified fleet that includes bulk carriers, tankers, and container ships. The company has established a reputation for its strategic fleet management and investment in modern, efficient vessels. This focus on fleet modernization and efficiency is part of Nisshin Shipping’s broader commitment to sustainability and reducing the environmental impact of its operations, aligning with global shipping industry trends towards greener maritime solutions. The sale of the four dry bulk contracts to Vincent Shipping, involving three kamsarmax bulk carriers and an ultramax bulk carrier, is reflective of Nisshin Shipping’s dynamic approach to asset management. These vessels, chartered at starting rates of $12,000 per day with purchase options, represent a significant investment in the dry bulk market, a sector known for its volatility but also for its essential role in global trade, transporting commodities such as grains, coal, and iron ore. For Nisshin Shipping, the decision to offload these contracts may be strategic, freeing up capital and resources for reinvestment in other areas, such as newer, more environmentally friendly vessels or diversification into other shipping segments. This move could be indicative of Nisshin’s adaptive strategy in response to shifting market dynamics, regulatory pressures for cleaner shipping, and the ongoing need for fleet renewal to maintain competitive advantage. Moreover, this transaction highlights the interconnected nature of the shipping industry, where partnerships, contracts, and asset transfers between entities like Vincent Shipping and Nisshin Shipping facilitate the efficient functioning of global trade networks. These relationships and transactions enable shipping companies to navigate the complexities of the market, optimize their operations, and pursue strategic objectives. The implications of Vincent Shipping’s exit from these bulk carrier contracts extend beyond the immediate financial and operational aspects. They reflect broader trends in the shipping industry, such as the importance of strategic fleet management, the impact of environmental regulations on shipping operations, and the ongoing need for companies to adapt to maintain relevance and profitability in a competitive and rapidly evolving global market. As the maritime industry continues to evolve, driven by technological advances, environmental considerations, and changing trade patterns, the strategies and decisions of companies like Nisshin Shipping and Vincent Shipping will be critical in shaping the future landscape of global shipping. 23-February-2024
Jinhui Shipping and Transportation Limited, a bulker owner and operator listed on both the Oslo and Hong Kong stock exchanges, is enhancing its fleet by acquiring a contemporary kamsarmax bulk carrier. The company has been identified as the purchaser in a recent transaction involving the 81K DWT kamsarmax bulk carrier MV Vincent Trader, constructed in 2019 by Jiangsu Hantong Ship Heavy Industry, with the sale price reported to be approximately $31 million. The MV Vincent Trader is scheduled for delivery to Jinhui Shipping and Transportation Limited in June 2024, on a free-from-charter basis. This vessel was one of four that Vincent Shipping had under a bareboat charter from the Japanese shipowner Nisshin Shipping, each with options to purchase. Vincent Shipping has decided to transfer all these vessels and has withdrawn from the dry bulk sector. Throughout 2023, Jinhui Shipping and Transportation Limited actively realigned its fleet, selling off older vessels and acquiring younger ones, including a 2021-built kamsarmax bulk carrier and a 2012-built capesize bulk carrier, each purchased for about $31 million. The addition of the MV Vincent Trader will complement Jinhui Shipping and Transportation Limited’s existing fleet, which predominantly consists of supramax and ultramax bulk carriers, bringing the total to 23 owned vessels. Nisshin Shipping, the Japanese shipowner from whom the MV Vincent Trader was acquired, is known for its significant presence in the global shipping industry. Established in Tokyo, Nisshin Shipping has a diversified fleet that includes bulk carriers, tankers, and container ships, making it one of Japan’s foremost maritime transport companies. With a focus on environmental sustainability and innovation, Nisshin Shipping has been at the forefront of adopting eco-friendly technologies and practices in shipbuilding and operations. Nisshin Shipping’s strategy involves a mix of owning and chartering vessels, allowing for flexibility and responsiveness to market changes. Nisshin Shipping’s commitment to quality and reliability has earned it a strong reputation among charterers and clients worldwide, bolstering its position as a key player in international shipping. 21-February-2024
Cargill Ocean Transportation has finalized a charter agreement for a newly built kamsarmax bulk carrier from Nisshin Shipping, a Japanese shipowner, amidst a surge in kamsarmax term rates to their highest point since May 2023. This strategic move comes as the market sees an uptick in demand, with period rates for panamax and kamsarmax vessels reaching a peak. The Baltic Exchange highlights that Cargill, a leading US agricultural firm, has secured the charter for the 82K DWT MV Canon Trader, set to be built in 2024, at a daily rate of $17,000. Cargill Ocean Transportation, headquartered in Geneva, currently manages a vast fleet comprising around 700 chartered bulk carriers. The delivery of the 82K DWT kamsarmax bulk carrier MV Canon Trader is scheduled to take place at Hantong, China, in April 2024, marking a significant addition to Cargill’s extensive fleet. 12-February-2024
Japanese shipowner Nisshin Shipping sold 2014 built ultramax bulk carrier 63K DWT MV Hanton Trader III to Hong Kong-based Bermuda-registered Jinhui Shipping and Transportation Limited for around $20.5 million. Jinhui Shipping and Transportation Limited has resumed its purchasing activities shortly after selling its oldest bulk carrier 2004 built supramax bulk carrier 52K DWT MV Jin Feng (ex MV Tai Hawk) to Singapore-based ETL Shipping around $8.1 million. In the previous year, Jinhui Shipping and Transportation Limited had acquired Japanese shipowner Nisshin Shipping’s 2014 built ultramax bulk carrier 63K DWT MV Jin Ping (ex MV Hanton Trader II). Japanese shipowner Nisshin Shipping will deliver 2014 built ultramax bulk carrier 63K DWT MV Hanton Trader III without any existing charter by 10 November 2023. Jinhui Shipping and Transportation Limited mentioned that the company plans to fund approximately 60% of the transaction through bank financing, with the remaining amount covered by available cash. 27-September-2023
Japanese shipowner Nisshin Shipping sold two ultramax bulk carriers to Oslo-listed Jinhui Shipping & Transportation. Tokyo-based shipowner Nisshin Shipping sold 2014 built ultramax bulk carrier 63K DWT MV Western Santos and 2014 built ultramax bulk carrier 63K DWT MV Hanton Trader I for around $25 million each. In 2014, Japanese shipowner Nisshin Shipping took the delivery of the two ultramax bulk carriers from Jiangsu Hantong Ship Heavy Industry. Currently, Japanese tonnage supplier Nisshin Shipping has 74 dry bulk carriers and 20 tankers. 9-September-2022
Japanese shipowner Nisshin Shipping has exercised options to order another five (5) kamsarmax 82K DWT bulk carriers at Jiangsu New Hantong Ship Heavy Industry. Japanese shipowner Nisshin Shipping held the options at the shipyard since Nisshin Shipping booked its earlier order for five (5) kamsarmax 82K DWT bulk carriers in April 2021. Nisshin Shipping ordered a total of ten (10) kamsarmax 82K DWT bulk carriers with a total price tag of $280 million. Japanese shipowner Nisshin Shipping will take delivery of the 10 new kamsarmax 82K DWT bulk carriers between Q2 2022 and Q3 2023. Nisshin Shipping’s 10 new kamsarmax 82K DWT bulk carriers will comply with Phase 2 of the IMO’s (International Maritime Organization) Energy Efficiency Design Index (EEDI) and Tier III NOx emissions standards. Japanese shipowner Nisshin Shipping retains an option to fit scrubbers on the kamsarmax bulk carriers. Japanese shipowner Nisshin Shipping will delivery of two (2) kamsarmax bulk carrier new buildings from Jiangsu New Hantong Ship Heavy Industry in September and December. 16-August-2021
Japanese shipowner Nisshin Shipping ordered five (5) 82K DWT kamsarmax bulk carrier new-buildings with five (5) options at Jiangsu New Hantong Heavy Industry. This is the fourth new-building contract that Nisshin Shipping has placed at Jiangsu New Hantong Heavy Industry since it placed its first order in 2013. Tokyo-based shipowner Nisshin Shipping is going to pay around $28 for each kamsarmax bulk carrier new-building. 82K DWT kamsarmax bulk carrier new-buildings are going to be built according to IMO NOx Tier II emissions standards. Japanese shipowner Nisshin Shipping holds an option to install scrubbers on the 82K DWT kamsarmax bulk carrier new-buildings. This is Nisshin Shipping’s first new-building contract signed in 2021. Lately, Nisshin Shipping has sold five (5) tankers. Japanese shipowner Nisshin Shipping is controlled by Y Fujii. Currently, Japanese shipowner Nisshin Shipping owns a mixed fleet of 92 ships. Furthermore, Nisshin Shipping has approximately 20 new-building ships under construction at various shipyards. 17-April-2021
Tokyo based shipowner and operator Nisshin Shipping sold three (3) kamsarmax bulk carriers to China Development Bank Leasing. China Development Bank Leasing has signed a bareboat charter agreement with BG Shipping for three (3) kamsarmax bulk carriers. Nisshin Shipping is led by Y Fujii. Nisshin Shipping sold kamsarmax bulk carriers 82K DWT MV Trustn Trader I, MV Trustn Trader II, and MV Falcon Trader. China Development Bank Leasing has built up a fleet of 77 ships. Nine (9) of its bulkers are operating under the commercial control of BG Shipping. Last month, Nisshin Shipping reported an enormous loss on the resale of LNG carrier newbuilding. Nisshin Shipping had ordered LNG carrier at SHI (Samsung Heavy Industries) for $160 million. 16-July-2020
Japanese shipowner Nisshin Shipping grows its fleet with 12 handysize 39K DWT new buildings under construction at Chinese Shipyard Jiangmen Nanyang Ship Engineering. Japanese tonnage supplier Nisshin Shipping has modestly increased its fleet with handysize dry bulk carrier new-buildings. Nisshin Shipping has been ordering new building dry bulk carriers at Chinese Shipyard Jiangmen Nanyang Ship Engineering since 2013. Up to now, Chinese Shipyard Jiangmen Nanyang Ship Engineering has delivered more than 10 handysize dry bulk carriers to Nisshin Shipping. Japanese shipowner Nisshin Shipping has been ordering new buildings on speculative strategy. Last year, Nisshin Shipping ordered 9 ultramax dry bulk carriers at another Chinese Shipyard Nantong Xiangyu Shipbuilding & Offshore Engineering. Nisshin Shipping is one of the few Japanese tonnage suppliers to have taken advantage of inexpensive shipbuilding prices in China and has been ordering dry bulk carriers on speculation. Nisshin Shipping ordered 19 ultramax dry bulk carriers at Nantong Xiangyu Shipbuilding & Offshore Engineering and 10 kamsarmax dry bulk carriers at Jiangsu Hantong Ship Heavy Industry. Japanese tonnage supplier Nisshin Shipping is quite well known in the shipping market to be cooperating with Cargill, Western Bulk, and Ultrabulk. Y Fujii-led Nisshin Shipping is Japan’s third-largest independent tonnage supplier Japan’s first and second-largest independent tonnage suppliers are Shoei Kisen and Nissen Shipping respectively. Nisshin Shipping also has ordered at the Japanese shipyard. Nisshin Shipping ordered ultramax dry bulk carrier at Japanese Oshima Shipbuilding and a series of 19K DWT chemical tankers under construction at Japanese Usuki Shipyard. Nisshin Shipping has chartered out the tankers to Nordic Tankers and Ultranav. Currently, Japanese tonnage supplier Nisshin Shipping has 33 dry bulk carriers and 26 tankers. 7-March-2019
Japanese shipowner Nisshin Shipping is actively downsizing its fleet, moving quickly to divest some of its assets. The company recently marketed three of its kamsarmax bulk carriers and has now finalized a transaction with Transmed Maritime Ltd, a shipowner and operator based in Athens, to sell all three vessels in one deal. According to reports from shipbrokers, each of the sister ships – MV Mangan Trader I, MV Mangan Trader II, and MV Mangan Trader III – has been sold for $16.75 million. Built in 2013 by Hyundai Samho, these ships are part of Nisshin Shipping’s strategic reduction of its dry bulk fleet. This move further cements Nisshin Shipping’s status as one of the leading sellers in the global dry bulk tonnage market this year. 18-November-2016