Carrier Ownership News

The move towards container leasing and away from carrier ownership continues unabated and the leased fleet now has a clear majority over that owned by transport operators, according to the latest edition of the Container Census & Leasing and Equipment Insight published by global shipping consultancy Drewry. Leasing companies accounted for 55% of container purchases in 2017, which continues the trend seen for most of this decade. With the fleet of containers owned by transport operators growing by a mere 2.4%, the leased fleet added 6.7% and the share owned by lessors is now nearing 52%. “Drewry expects this trend to continue over the next few years,” said Drewry’s director of research products Martin Dixon.

Mitsui O.S.K. Lines, Ltd. today announced that the naming ceremony for a newbuilding LNG carrier for Osaka Gas Co., Ltd. was held at the Nagasaki Shipyard of Mitsubishi Heavy Industries, Ltd. The vessel was ordered by MOL and Osaka Gas International Transport, Inc., a wholly owned subsidiary of Osaka Gas, and built by Mitsubishi Heavy Industries. Guests from MOL, Osaka Gas, MHI, and other organizations were on hand as Osaka Gas President Takehiro Honjo named the vessel the LNG Mars, and his wife cut the rope. The vessel is co-owned by MOL and Osaka Gas International Transport, and will serve a wide variety of projects including Osaka Gas' Gorgon Project.

Mitsui O.S.K. Lines, Ltd. signed a contract with Mitsui & Co., Ltd. today (January 29) to charter a new 177,000m3 liquefied natural gas (LNG) carrier. This is the third newbuilding vessel chartered by Mitsui & Co., following a contract signed last September 26 for two carriers. MOL will manage the new vessels and transport shale gas-derived liquefied natural gas (LNG) from Cameron Project in Louisiana, the United States. Aiming toward its goal of "solid growth through innovative changes" set forth in the midterm management plan STEER FOR 2020, MOL continues to meet customers' needs for LNG procurement and offer safe, high-quality LNG transport services backed by the experience, know-how, and network accumulated as the world leader in LNG carrier ownership and management.

Mitsui O.S.K. Lines, Ltd. President: Koichi Muto) today announced the naming ceremony of 'LNG Venus', a newbuilding liquefied natural gas (LNG) carrier held at the Nagasaki Shipyard of Mitsubishi Heavy Industries, Ltd. (MHI; President: Shunichi Miyanaga; Headquarters: Minato-ku, Tokyo). The vessel is under construction at MHI and will serve Osaka Gas Co., Ltd. As a large group of guests looked on, Osaka Gas President Ozaki named the vessel, and his wife cut the rope. The LNG Venus is co-owned by MOL and Osaka Gas’ wholly owned subsidiary, Osaka Gas International Transport Inc. (President: Shigeru Chikamoto; Headquarters: Osaka City, Osaka Prefecture). After its completion, it will sail under a charter contract with Osaka Gas.

M&A (Merger & Acquisition) activity in the US container terminal sector is currently at its highest level since the boom time of the mid-2000s. However, whilst the type of buyer is largely similar to what it was, the rationale for pursuing today’s deals is different, considers Drewry Maritime Research (DMR) in their latest 'Container Insight Weekly'. The US container terminal sector has seen numerous high profile deals so far this year.Most of the parties on the buy side of the deals are infrastructure and financial players – the same type of buyers that were most active in acquiring US terminals in the mid-2000s. Their aims and motivations today though are somewhat different to what they were.

Shipping income tax reform may be one of the key legislative initiatives in the U.S. Congress this year according to Michael G. Roberts, who holds down the Washington D.C. office of Crowley Maritime Corporation. Roberts noted it has been almost three years since the Maritime Security Act (MSP) was passed, giving 47 U.S.-flagged ships a new lease on life through a non-permanent operating subsidy program. Now, he says, something must be done about the threatened extinction of American shipping firm operating vessels in international trade. Roberts said, according to data compiled by the U.S. Maritime Administration (MarAd), American liner…

Shipping income tax reform may be one of the key legislative initiatives in the U.S. Congress this year according to Michael G. Roberts, who holds down the Washington D.C. office of Crowley Maritime Corporation. Roberts noted it has been almost three years since the Maritime Security Act (MSP) was passed, giving 47 U.S.-flagged ships a new lease on life through a non-permanent operating subsidy program. Now, he says, something must be done about the threatened extinction of American shipping firm operating vessels in international trade. Roberts said, according to data compiled by the U.S. Maritime Administration (MarAd), American liner…