S. African Watchdog Seeks Penalty Against K-Line
South Africa’s competition watchdog is seeking to fine Japan’s Kawasaki Kisen Kaisha (K-Line) as much as 10 percent of its annual revenue in the country for colluding on a tender for the transport of Toyota Motor Corp. vehicles, reports Reuters. The commission believes action must be taken against it for price fixing‚ market division and collusive tendering involving the transportation of Toyota vehicles from South Africa to Europe‚ North Africa (Mediterranean Coast) and the Caribbean Islands via Europe‚ West Africa‚ East Africa and Red Sea (Latin America) by sea.
"K" Line Joins Indian National Shipowner's Association
"K" Line (India) Shipping Private Ltd (KLISP), affiliated company of Kawasaki Kisen Kaisha Ltd., joined Indian National Shipowner's Association(INSA) at the end of January 2017. KLISP was established in 2014 and actively participates in Indian Coastal Trade as well as International Trade business as an Indian Shipping company. In the same year, KLISP successfully entered into a long-term CVC contract with an Indian Charterer. From December 2016, KLISP acquired ownership of an Indian flag vessel…
Container Shippers Ordered to Testify in US Investigation
The U.S. Justice Department has ordered top executives from several container shipping lines to testify in an antitrust investigation into an industry that is the backbone of global trade, the companies said on Wednesday. The world's biggest container shipper, Denmark's A.P. Moller-Maersk, Germany's Hapag Lloyd, Taiwan-based Evergreen, Hong Kong-based Orient Overseas Container Line (OOCL) said their executives were among those who had been subpoenaed. The United States is concerned that the proposed alliances of several major companies…
Seaspan Signs Contract for Five Ships
Seaspan Corp has signed contracts for Samsung Heavy Industries Co Ltd to build five new 4,520 TEU container ships. Seaspan has also completed more than $900 million in debt financing with a long-term fixed interest rate of less than 6 percent. The company has signed 12-year time charters for the vessels with Kawasaki Kisen Kaisha Ltd, Japan's third-largest liner operator. The five new vessels are due to be delivered in 2010 and 2011.
Kawasaki Kisen Pleads Guilty to Price Fixing
Japanese shipping company Kawasaki Kisen Kaisha will pay a $67.7 million fine and plead guilty to participating in a conspiracy to fix prices and rig bids to internationally ship cargo that included cars and trucks, the U.S. Justice Department said on Friday. (Reporting by Aruna Viswanatha)
China Fines Shippers $63 mln for Price Fixing
China has fined seven shipping companies, including Japan's Kawasaki Kisen Kaisha, a total of 407 million yuan ($62.85 million) for price-fixing, the country's state economic planner said in a statement on Monday. The National Development and Reform Commission (NDRC) said the companies colluded to raise rates on shipments of cars, trucks, and construction machinery across five shipping routes, including between China and Europe, for at least four years, violating the country's anti-monopoly laws. The other six companies fined were Japan's Mitsui OSK Lines and Eastern Car Liner Ltd., South Korea's Eukor Car Carriers, Norway's Wallenius Wilhelmsen Logistics AS, Chile's Compania Sud Americana de Vapores, and a separate shipping subsidiary within CSAV, the NDRC said.
“K” Line Group to Implement “K” Line Wind program
“K” Line Group (Kawasaki Kisen Kaisha) taking steps to improve our corporate culture and climate through the “K”-no-Kaze” (“K” Line Wind) program. Additionally, it is prepared a long-term policy for environmental conservation—called “Environmental Vision 2050”—to fulfill its responsibility to minimize our impact on the global environment. Early next month, DRIVE GREEN PROJECT, construction of a car carrier equipped with state-of-the-art technologies and designed to achieve the highest level of energy savings and environment-friendliness, is scheduled to be completed.
MOL to Upgrade Container Service
Mitsui O.S.K. Lines, Ltd. (MOL) has announced an upgrade to its Asia-East Coast South America Service (CSW). From July 2011 through 2012, MOL will launch a total of 10 new 5,600 TEU container ships and replace the currently-operated vessels. The newbuilding ships will adopt a new wide-beam and shallow-draft design, featuring high loading capacity and compatibility with shallow-draft ports in South America, as well as superior fuel efficiency. Moreover, effective July 2011, MOL will assign an additional ship to CSW with a total of 13 ships, which allows sufficient time and enhance the schedule stability with a revised schedule. Along with the fleet expansion, MOL will begin chartering space to a consortium of Nippon Yusen Kabushiki Kaisha (NYK Line), Kawasaki Kisen Kaisha, Ltd.
Japan Orders $1.8B in LNG Tankers
According to a Bloomberg report, Nippon Yusen K.K. and Mitsui O.S.K. Lines Ltd., Japan's two largest shipping lines, will join Qatar in ordering $1.8 billion of liquefied natural gas (LNG) tankers to carry the fuel to North America. The ships will be built in as yet-unnamed South Korean yards. Kawasaki Kisen Kaisha Ltd., Japan's third-biggest shipping company, Iino Kaiun Kaisha Ltd. and trading house Mitsui & Co. are also among the investors, according to the report. The Japanese group is buying more LNG tankers as trade in the fuel increases and shipping lines prepare for a forecast decline in rates to transport containers to the U.S. and Europe. Power plants and other companies are switching to cleaner- burning LNG, or gas chilled to liquid, after oil prices surged.
Keppel secures contract for Qatargas LNG carriers
Keppel Shipyard Limited (Keppel Shipyard) has entered an Alliance Service Agreement for the drydocking of a fleet of Moss Rosenburg (MOSS) type of Liquefied Natural Gas (LNG) carriers chartered by Qatar Liquefied Gas Company Ltd (Qatargas). The five-year agreement was signed with MO LNG Transport Co., Ltd (MOL), Nippon Yusen Kaisha Ltd (NYK) and Kawasaki Kisen Kaisha Ltd (K-Line). The vessels under the fleet agreement are Al Zubarah, Al Khor, Al Rayyan, Al Wajbah, Broog, Zekreet, Al Wakrah, Doha, Al Bidda, and Al Jasra. Keppel Shipyard has been servicing this fleet of LNG carriers from Qatargas since 1999. The scope of work involves drydocking for survey, maintenance and repair.
India Approves Shipping Corp LNG Joint Venture
The Indian government on March 4 approved state-run Shipping Corporation of India Ltd.'s plan to take a 33.8 percent stake in a new Panama-based liquefied natural gas (LNG) transportation company. Shipping Corp. will invest $21 million in the firm, in which Japan's Mitsui OSK Lines Ltd., Nippon Yusen Kabushiki Kaisha and Kawasaki Kisen Kaisha Ltd. would be other partners. The new company would transport LNG for India's state-run Petronet LNG Ltd., which operates a 5-million-tonne LNG terminal in Dahej on India's west coast. The company would transport 2.5 million tonnes of LNG for an expanded facility at Dahej. Petronet LNG has a long-term contract with Qatar's Rasgas to buy 7.5 million tonnes of LNG for its terminal.
Qatar Drydock has 7 LNG Carriers Under Repair
As part of the Erhama Bin Jaber Al Jalahma Shipyard, N-KOM has successfully completed marine, offshore and onshore projects for both local and international clients, with LNG repairs making up almost half of these projects reports LNG World News. The seven LNG carriers (Al Jasra, Al Bidda, Al Wajbah, Dukhan, Al Gharrafa , Al Rayyan and Al Thumama) are undergoing drydocking repairs, including the overhauling of the main engine, valves, pumps and other general repairs and maintenance. Most of these vessels are jointly owned by a consortium of Japanese shipping companies: Mitsui O.S.K. Lines Ltd (MOL), Nippon Yusen Kaisha Line (NYK), Kawasaki Kisen Kaisha Ltd (“K” Line), with Al Gharrafa being technically managed by OSG Shipmanagement (UK) Ltd.
GAIL Scraps $7-bn LNG Tender
Indian state-owned energy firm GAIL India Ltd has scrapped a USD 7 billion tender for hiring newly built ships to ferry LNG from US after bidders did not agree to 'Make-in-India' terms, says a report by PTI. Gail will now hire the ships from the global spot or current market to transport LNG. Gail, which was forced by the oil ministry to add the ‘Make-in-India’ condition to its tender, will now hire the ships from the global spot or current market to transport LNG, a senior official with knowledge of the matter said.
Maersk Mulls More Mergers
Mergers like the combination of its three main Japanese rivals -Nippon Yusen KK, Mitsui O.S.K. Lines Ltd. and Kawasaki Kisen Kaisha Ltd - provide relief to an ailing industry that has been characterized by over-capacity, Bloomberg reported Maersk Group as saying. Soren Skou, Maersk Line’s chief executive officer who also runs the A.P. Moller-Maersk A/S, owner of the world’s largest container line, said last month that his company will stop buying new ships and instead try to expand through takeovers.
K Line, The Next Takeover Target?
Speculation has been mounting on possible taking over the Japanese shipping company Kawasaki Kisen Kaisha (K Line). According to a FT report, analysts and investors have been baffled by the recent activities of Effissimo, Singapore-based fund had increased its stake in K Line to 37 per cent by early August from 6.2 per cent about a year ago. K Line could be targeted for takeover by Effissimo Capital Management, the firm’s largest shareholder as of early August, according to recent media reports.
China Cosco Shipping to Maintain Alliances until Expiry
China Cosco Shipping plans to retain its current container alliances until they expire, after which it plans to sign a new deal, it said on Monday. The group's spokesman, Yu Zenggang, did not say when the current alliance agreements were due to expire. China COSCO , a unit of COSCO, is part of the CKYHE alliance with Kawasaki Kisen Kaisha, Yang Ming Marine Transport, Hanjin Shipping and Evergreen Marine, while China Shipping Container Lines , a unit of China Shipping Group, CMA CGM CMACG.UL and United Arab Shipping Co make up the Ocean Three alliance.
'K' Line Takes Delivery of Corona Series Coal Carrier
Kawasaki Kisen Kaisha, Ltd., Tokyo, (“K” Line) has announced the delivery of Corona Victory, an 88,000 DWT-type special coal carrier at Marugame Shipyard of Imabari Shipbuilding Co., Ltd., Japan on May 24, 2016. Corona Victory is same type as “K” Line’s specialized fleet for transport of thermal coal known as the Corona-series, which consists of epoch-making coal carriers equipped with wide beam and shallow draft, which are the most suitable type to enter ports of domestic Thermal Power Stations to discharge cargo. With this new latest deployment, the Corona-series now consists of 19 carriers. Specifications LOA 229.98 M Beam 38.00 M Depth 19.90 M Deadweight Tons 88,909 MT Gross Tons 49,721 T Net Tons 28,535 T Full Draft 13.904 M Hold/Hatch 5/5
Wan Hai Orders Eight New Containerships
Taiwan’s shipping company Wan Hai Lines has placed an order for eight 1,900 teu box ships worth a total of $212 million - $236 million. Wan Hai said that the vessels will be built by shipbuilder Naikai Zosen Corp. Delivery dates for the newbuildings were not disclosed, according to a stock exchange filing. The shipping liner has already sealed a deal with Japan’s Kawasaki Kisen Kaisha (“K”Line) and Singapore’s Pacific International Lines (PIL) to jointly operate a transpacific service from Vietnam and South PRC to the U. S. Pacific South West with seven ships of about 8,000 TEUs.
K Line Sues APL Logistics
Kawasaki Kisen Kaisha, Ltd. (“K’’ Line) has today filed a civil lawsuit in Tokyo District Court against APL Logistics Ltd. (“APLL”), a Singapore entity which is engaged in international transportation business, seeking compensation for damages arising from APLL employees’ acts of disseminating false information relating to “K” Line. Some of APLL employees have disseminated false information to “K” Line’s clients, which had spread globally, by sending e-mails in which they strongly recommend terminating bookings on “K” Line and shifting to other carriers, because of a potential bankruptcy.
MOL Enhances Asia-South Africa Service Network
TOKYO—Mitsui O.S.K. Lines Ltd. MOL will meet customer needs by providing high-quality direct services and by providing variety of port coverage continuously. MOL will join new Asia and South Africa Service (ASA). Opening of the new route, linking Central and South China, Taiwan, South East Asia and South Africa, will start on April 8, 2012. MOL will offer a weekly service by joining the existing ASA service, operated by Kline (Kawasaki Kisen Kaisha) and PIL (Pacific International Lines). The service will be operated by 8 vessels, and MOL will provide one ship (MV MOL DELIGHT). This service will offer direct inbound and outbound service between Central China, Taiwan and the South Africa region and strengthen the existing network in South Africa (Durban and Cape Town).
Wisdom Marine Takes Loan for Japanese Orders
Wisdom Marine Group signed a two-tranche syndicated loan agreement for $5.92 million (USD) and ￥11.88 billion ($119.43 million, USD) with six domestic banks to finance its orders with three Japanese shipbuilders, Taipei Times reported. The syndicated loan was co-led by First Commercial Bank and Bank of Taiwan, with participating loans from Taiwan Cooperative Bank, Hua Nan Commercial Bank, Bank SinoPac and Bank of Kaohsiung. Wisdom Marine and its subsidiaries placed orders with three Japanese shipbuilders Oshima Shipbuilding Co Ltd, Sasebo Heavy Industries Co Ltd and Tsuneishi Shipbuilding Co Ltd to build six bulk vessels. Delivery is anticipated sometime between this year and 2015.
Seaspan Accepts Delivery of Two New Vessels
Seaspan Corporation (NYSE:SSW) announced the delivery of its 44th and 45th vessels, the Guayaquil Bridge and the COSCO Japan. The Guayaquil Bridge, a 2500 TEU vessel delivered on March 5, 2010, was built by Jiangsu Yangzijiang Shipbuilding Co., Ltd. It is on charter to Kawasaki Kisen Kaisha Ltd. (K-Line) of Japan under a ten-year, fixed-rate time charter. The Guayaquil Bridge is the first of seven Seaspan vessels to be chartered to K-Line. The 8500 TEU COSCO Japan, which was constructed by Hyundai Heavy Industries Co., Ltd., was also delivered on March 5, 2010. The COSCO Japan is on charter to COSCO Container Lines Co., Ltd. (COSCON) of China under a twelve-year, fixed-rate time charter. It is the third of eighteen vessels to be chartered by Seaspan to COSCON.
Seaspan Takes Delivery of 50th Containership
Seaspan Corporation (NYSE:SSW) announced that it accepted delivery of the Calicanto Bridge from Jiangsu Yangzijiang Shipbuilding Co., Ltd. (YZJ) on May 28, 2010. The 2500 TEU containership is Seaspan's eighth delivery in 2010, expanding the company's operating fleet to 50 vessels. Kawasaki Kisen Kaisha Ltd. (K-Line) of Japan accepted delivery of the Calicanto Bridge on May 30, 2010. The vessel is on charter to K-Line under a ten-year, fixed-rate time charter. It is the last of two 2500 TEU sister ships and the second of a total of seven vessels to be chartered by Seaspan to K-Line. Furthermore, this ship is the last of ten 2500 TEU vessels delivered from YZJ to Seaspan.