NYK Bulk

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