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.
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.
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) Bulk has been trying to maintain and expand long-term contracts in the dry bulk division.
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.
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.
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.
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.