Nippon Yusen Kk News

Japan's Nippon Yusen KK (NYK) and its partners said on Tuesday they will conduct a demonstration project to develop commercial vessels equipped with ammonia-fueled engines to help reduce carbon dioxide emissions to tackle climate change.The shipping industry is examining a range of technologies as it looks to meet a target set by the UN's International Maritime Organization (IMO) of reducing overall greenhouse gas emissions from ships from 2008 levels by 50% by 2050.Ammonia is used in making fertilizer and industrial materials, but is also seen as a potential future energy source, along with h

JERA, the world's biggest liquefied natural gas(LNG) buyer, said on Wednesday that it has begun LNG bunkering business in central Japan through its joint venture with Kawasaki Kisen Kaisha, Toyota Tsusho and Nippon Yusen KK.The move is aimed at providing an infrastructure needed for LNG-fuelled carriers and promoting a conversion of ships to LNG fuels to help achieve a target by the International Maritime Organization (IMO) to halve greenhouse gas emissions from shipping by 2050 compared to 2008, it said in a statement.An LNG bunkering vessel, owned by the joint venture, supplied the fuel earl

Japanese shipping company Nippon Yusen KK expects the coronavirus pandemic to reduce its recurring profit by 50-60 billion yen ($464 million-$557 million) for the year to next March, an executive said on Monday."Our assumption is that the worst impact from the pandemic will be seen in the April-June quarter, with economic activity slowly picking up after that," Toru Maruyama, a corporate officer at Nippon Yusen, told a news conference.Global container demand, which is currently down more than 20%…

Kawasaki Kisen Kaisha, Chubu Electric Power, Toyota Tsusho, and Nippon Yusen KK said on Friday that their joint venture has placed an order for a liquefied natural gas (LNG) bunkering vessel with Kawasaki Heavy Industries.   The vessel, which is scheduled to be delivered around September-December 2020, will be the first LNG bunkering vessel to be operated in Japan, the companies said in a statement.   The companies plan to start supplying LNG to vessels as fuel in the Chubu region in central Japan.   LNG is seen as an alternative to bunker fuel oil for shipping lines facing a 2020 deadline to meet new international standards on sulphur emissions.   Reporting by Osamu Tsukimori

Kawasaki Kisen Kaisha, Chubu Electric Power, Toyota Tsusho, and Nippon Yusen KK said on Thursday they have agreed to launch a liquefied natural gas (LNG) bunkering business in Japan and have set up two joint ventures.The companies plan to start supplying marine traffic in the Chubu region in central Japan, they said in a statement.LNG has been promoted as an alternative to bunker fuel oil for shipping lines facing a 2020 deadline to meet new international standards on sulfur emissions.(Reporting by Osamu Tsukimori; editing by Richard Pullin)

EU antitrust regulators are set to fine Nippon Yusen KK (NYK) and several other Japanese shippers as well as Norwegian Wallenius Wilhelmsen Logistics ASA (WWL) in the coming weeks for rigging bids for shipping cars, according to people with knowledge of the matter. The EU sanctions follow a near six-year investigation which started with dawn raids by the European Commission in September 2012 in coordination with Japanese and U.S. antitrust authorities. Competition regulators around…

Kawasaki Kisen Kaisha, Chubu Electric Power , Toyota Tsusho, and Nippon Yusen KK say they have started discussions to launch a business supplying liquefied natural gas (LNG) to fuel ships.   Discussions to focus on supplying marine traffic in the Chubu region in central Japan and building supply networks for customers using the fuel, companies said in statement on Friday. LNG has been promoted as an alternative to bunker fuel oil for shipping lines facing a 2020 deadline to meet new international standards on sulphur emissions.   Reporting by Aaron Sheldrick

A U.S. warship struck by a container vessel in Japanese waters failed to respond to warning signals or take evasive action before a collision that killed seven of its crew, according to a report of the incident by the Philippine cargo ship's captain. Multiple U.S. and Japanese investigations are under way into how the guided missile destroyer USS Fitzgerald and the much larger ACX Crystal container ship collided in clear weather south of Tokyo Bay in the early hours of June 17.

The United States Coast Guard will on Tuesday start interviewing the crew of a Philippines-flagged container ship which collided with a U.S. warship in Japanese waters killing seven American sailors. The U.S. coast guard investigation is one several into the incident on Saturday involving the guided missile destroyer USS Fitzgerald and the much larger ACX Crystal. The cause of the collision at night and in clear weather is not known. "We are scheduled to interview the crew members," said U.S. Lieutenant Scott Carr told Reuters, referring the crew of the merchant ship.

Nearly an hour elapsed before a Philippine-flagged container ship reported a collision with a U.S. warship, the Japanese coastguard said on Monday, as investigations began into the accident in which seven U.S. sailors were killed. The U.S. Navy confirmed that all seven missing sailors on the USS Fitzgerald were found dead in flooded berthing compartments after the destroyer's collision with the container ship off Japan early on Saturday. The Fitzgerald and a Philippine-flagged container ship collided south of Tokyo Bay early on Saturday. The cause of the collision is not known. Multiple U.S.

Japan's top three  shippers -Nippon Yusen KK (NYK), Mitsui OSK Lines and Kawasaki Kisen Kaisha - appear on course for net profit in fiscal 2017, buoyed by better market conditions and restructuring efforts, Reuters reported. The brighter outlook comes amid a gradual recovery in prices for shipping containers, which carry 90 percent of the world’s manufactured goods. Mitsui O.S.K. Lines likely will achieve a net profit of about 10 billion yen ($90 million) in the current year, up from an expectation of breaking even for the year ended in March, according to Nikkei. A company release said that some improvements in the supply and demand environment on Asia-North America, Asia-Europe and Asia-South America routes facilitated a recovery in the spot freight rates.

Subsea affiliate of Singapore's Ezra files for U.S. A subsea and offshore contractor affiliate of Ezra Holdings Ltd, a struggling Singaporean oilfield services firm, filed for U.S. bankruptcy as it ran short of cash due to a lingering downturn in the oil-and-gas industry. The affiliate, Emas Chiyoda Subsea Ltd, said in court papers filed in Houston that the company was suffering from weak demand for its subsea contracting work and tightening credit conditions. Ezra has said it may have to take a $170 million writedown on the value of its investment in Emas Chiyoda.

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. “We welcome consolidation,” Mikkel Elbek Linnet, a spokesman for the Copenhagen-based Maersk Line, told Bloomberg. The comments come as Maersk puts its group structure under strategic review. Management has said it wants to split the energy business off from its transport operations.

Japan's big three shippers will report earnings on Monday as yen strength threatens to widen annual loss estimates, in a sector shaken by shrinking demand and over capacity that has already sunk a major carrier. Nippon Yusen KK (NYK), Mitsui OSK Lines Ltd (MOL) and Kawasaki Kisen Kaisha Ltd (K-Line) - whose combined fleet of over 2,000 vessels includes tankers, dry-cargo carriers and container ships - will issue second-quarter results and updated full-year estimates that analysts say are currently too optimistic. The announcements will come just weeks after NYK said it would write down assets to the tune of 160 billion yen ($1.52 billion) in the July-September period.

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.

China is going after container shipping lines for freight rate abuses. The Chinese Ministry of Transport has fined a total of $65 million on price-fixing charges. The National Development and Reform Commission said in a statement that the imposed fines are equivalent to 4% to 9% of their international shipping sales “concerning transport to and from China". The investigation lasted for more than a year, the NDRC said. Japan's Nippon Yusen KK, Mitsui OSK lines, Kawasaki Kisen Kaisha and Eastern Car Liner, Korea's Eukor Car Carriers, Norway's Wallenius Wilhelmsen Logistics, Chile's Cia Sud Americana de Vapores and its shipping line were the eight indicted after a year-long investigation.

Asian shipping lines including Japan's Kawasaki Kisen Kaisha and China Shipping Container Lines have voluntarily lowered shipping surcharges, the country's top economic planner said on Monday. The statement by the National Development and Reform Commission (NDRC) comes after China's cabinet last month said it was probing shipping firms over allegations that they have been levying arbitrary and excessive charges. The NDRC said Korea's Hanjin Shipping and Hyundai Merchant Marine as well as Taiwan's Evergreen Marine, Wan Hai Lines and Yang Ming Marine Transport Corp were among firms the firms reducing their surcharges. Japan's Nippon Yusen KK had adjusted its fees on Sept. 15, it added.

Japanese market players ramp up their design efforts for fuel-efficient engines to challenge Korean yards as demand for super-cooled fuel is set to soar, says a report in South China Morning Post. A total of 50 to 60 LNG ships annually are forecast to be delivered globally in 2017 and 2018, aided by US shale export projects, according to an estimate by analyst Masanori Wakae at Mizuho Securities. Of the total, 12 to 15 ships may be delivered by Japanese suppliers, with the remainder likely to be supplied by the Koreans. Japanese yards delivered seven vessels in 2008 and just two ships in 2013, according to Wakae. Japanese shipbuilders…

Daiichi Chuo K.K. may cancel ship orders, pare its fleet & sell new stock after getting emergency financing from shareholder Mitsui O.S.K. Lines Ltd. To help weather a slump in dry-bulk rates the company is in talks about canceling or delaying 10 of 60 on-order dry-bulk vessels as it heads toward a second straight annual loss, reports Bloomberg. The report adds that Nippon Yusen K.K. and Mitsui O.S.K., Japan's largest shipping lines, have also cut earnings forecasts as the industry contends with expanding capacity, slowing demand and higher fuel prices. Source: Bloomberg

According to a Nov. 26 report from Reuters, Nippon Yusen KK (9101.T), Japan's biggest shipping company, said it would take a 50% stake in Norwegian tanker operator Knutsen Offshore Tankers by buying new shares, in a bid to enter the shuttle tanker business. (Source: Reuters)

According to a September 12 report from Reuters, pirates boarded a Japanese auto transport ship and robbed its crew off Indonesia late on September 10, but no one was injured and the undamaged ship resumed its voyage, Japanese media quoted the transport ministry as saying. Pirates boarded the ship named Cheerleader, operated by Japan's Nippon Yusen KK, tied up members of the crew, stole money and fled. (Source: Reuters)

JFE Holdings Inc.’s shipbuilding unit is reportedly aiming to win orders for as many as five iron ore carriers, according to a report on www.businessweek.com. Iron-ore carriers including Nippon Yusen K.K. and Mitsui O.S.K. Lines Ltd. are expanding dry-bulk fleets to tap demand for the steelmaking material. Exports of the ore from Australia, the world’s largest shipper, are forecast to rise at an average annual rate of 7 percent to 2015, the Australian Bureau of Agricultural and Resource Economics said March 2. (Source: www.businessweek.com)

Anchor Ship Investment Co., ’s largest ship-fund manager, reportedly is in position to spend part of a planned $2.3b fund on its first dry-bulk vessels in anticipation of a rebound in Chinese iron-ore demand, according to a report on Bloomberg. The company plans to start raising money for the new fund in September, and currently owns 10 ships, including container vessels, very large crude carriers, a chemical tanker, a car carrier and a liquefied petroleum gas tanker, Tsuji said. The ships are leased to Japanese lines, including Nippon Yusen K.K. (Source: Bloomberg)