MOL Buys Reliance Ethane Carrier Fleet
Japanese shipping giant Mitsui OSK Lines (MOL) will buy Reliance Industries (RIL) stakes in Singapore-based Reliance Ethane Holding (REHPL) which has a fleet of six very large ethane carriers (VLECs).RIL has 100% holding in six limited liability companies (LLCs) which own the VLECs. "MOL and a strategic minority investor have signed binding definitive agreements for an investment in the six special purpose limited liability companies each owning a VLEC," said a statement from the Mukesh Ambani-led Indian conglomerate holding.Transaction closing is subject to regulatory approvals.
Gulf Island Delivers Z-Tech Tugs
American manufacturer Gulf Island Shipyards has completed the second of 10 Z-Tech 30-80 tugs, five of which were ordered by Suderman & Young Towing Co.Once completed, these tugs will be operated in ports on the Texas Gulf Coast by G&H Towing Co, said a press release from Robert Allan Ltd.The Z-Tech 30-80 tug Ted C. Litton evolved from the previous Z-Tech 7500 design for Suderman & Young. Designed and built with a sponsoned hull form, escort capability of the tug is significantly enhanced.The design incorporates the best handling and operational characteristics of both Z-drive tractor tugs…
McManus Named T/S Empire State VI Master
SUNY Maritime College has appointed Captain Morgan McManus as the Master of the T/S Empire State VI. An alumnus of SUNY Maritime College, Captain McManus graduated in 1992 with a bachelor’s degree in Marine Transportation.Captain McManus has over 12 years’ experience sailing as Master including on the SS Cape Jacob, the sister ship to T/S Empire State VI. His sailing career has taken him on various types of commercial ships including steam, motor, breakbulk, container, car carriers, tankers, and cutting-edge dynamic positioned drill ships.
UECC Orders Four New Car Carriers
United European Car Carriers (UECC) has signed a contract to construct two new generation pure car/truck carriers (PCTCs) with China Ship Building Trading Co., Ltd and Jiangnan Shipyard Group Co. Ltd.The newbuilding contract also has options for two additional vessels, and the first vessel is planned for delivery in 2021. UECC is jointly owned by Nippon Yusen Kabushiki Kaisha (NYK) and Wallenius Lines.The vessels will be equipped with a Battery Hybrid LNG Solution which will place…
First MOL Car Carrier Vessel Arrives in Cambodia
The 6,400 standard passenger car capacity, Mitsui OSK Lines (MOL)-operated car carrier Grand Orion has made a first call for such a vessel type in Cambodia.The Japanese shipping company said in a release that the car carrier called at the Port of Sihanoukville, Cambodia, and discharged about 12,000 tons of construction machinery. It was the first call at a Cambodian port by an MOL-operated car carrier, it added.In commemoration of the first call, Grand Orion Capt. Denis C. De…
LNG REPORT: 143 LNG-Powered Vessels in Operation, 270 to Come
Currently, the liquefied natural gas (LNG)-powered fleet has grown globally from 118 LNG-powered vessels in operation in 2017, to 143 LNG-powered vessels in operation – with a further 135 on order and 135 LNG-ready ships either in operation or on order.According to the LNG bunkering coalition SEA\LNG, Orders for LNG-powered vessels span a variety of vessel types including tankers, cruise ships, container ships, car carriers, and Very Large Ore Carriers (VLOC)s.A press note issued by Peter Keller…
MOL Rolls Out Fleet Xpress Across Fleet
Mitsui O.S.K. Lines (MOL) is to increase the roll-out of Inmarsat’s Fleet Xpress Service, across the remainder of its owned and managed fleet. The Japanese shipping company was among the earliest adopters of Fleet Xpress; deploying Inmarsat’s global high-speed broadband connectivity on the majority of its Car-Carriers in 2016, shortly after the launch of the next-generation service. Currently it has over 100 vessels installed. MOL will now install Fleet Xpress across its managed and owned fleet of Bulk carriers…
Moody's Downgrades MOL
The rating company Moody's Japan K.K. has downgraded Japanese shipping company Mitsui O.S.K. Lines, Ltd.'s (MOL) corporate family rating to Ba2 from Ba1. The rating outlook is stable."We expect MOL's debt will not decline materially over the next few years and its leverage will likely remain above our downgrade guidance of 7.0x for a Ba1 rating," says Motoki Yanase, a Moody's Vice President and Senior Credit Officer.Moody's sees only a limited possibility for MOL to materially reduce its debt during the next several years…
Great Ships of 2018: #4 - Beluga Ace
Beluga Ace: New Design Car Carrier with Six Liftable DecksBeluga Ace, the first vessel of next-generation FLEXIE series car carrier built by the Minaminippon Shipbuilding Co., Ltd., was delivered to Japanese shipowner Mitsui O.S.K. Lines, Ltd. (MOL) in March 2018. The space onboard was rearchitected using the design concept. The six liftable decks, compared with two on conventional car carriers, allow loading of vehicles with different heights. As a result, loading efficiency was improved by 6.25% from the conventional type of car carrier…
Ship Operating Costs Rise for Second Successive Year: Drewry
As the cost inflation is set to accelerate on higher insurance premiums, average vessel operating costs rose modestly for the second year in succession following two years of marked declines, according to the latest report published by global shipping consultancy Drewry.The report titled 'Ship Operating Costs Annual Review and Forecast 2018/19' said that typical ship operating costs accelerated moderately in 2018 as the uncertain recovery in freight markets across most cargo sectors gained momentum.Opex costs are heavily linked to developments in the wider shipping market as some costs…
Shore Power: Holland America Line Plugs In
ABB shore power connectors retrofitted to three Holland America Line vessels will help these ships achieve low emissions in port anywhere in the world.Cruise line Holland American Line will retrofit three of its vessels with ABB’s innovative shore power connectors that allow the ships to draw on land-based electrical grids when docked in port.Holland America Line proactively encompasses programs that aim to reduce emissions and comply with international regulations and environmental guidelines – and seeks to exceed these requirements wherever possible.
Wallem Welcomes First Vessel Under Japanese Flag
The Aphrodite Leader, a pure car and truck carrier (PCTC), is the first vessel under Wallem Ship Management to come under the Japanese Flag.The Aphrodite Leader completed the various inspections, audits and surveys in accordance with the Japanese Flag requirements. The vessel then officially changed over to Japanese Flag upon receipt of the statutory certificates from the Japanese Government and Class NK.This marks a positive milestone as Wallem is now one of just a few international ship managers capable of managing Japanese Flag vessels.
4,000th Neopanamax Vessel Transits the Panama Canal
The Panama Canal registered the transit of its 4,000th Neopanamax vessel through the Expanded Canal, underscoring the steady growth of the burgeoning liquefied natural gas (LNG) segment – which began transiting the waterway for the first time following the inauguration of the Expanded Canal.The LNG tanker Maria Energy completed the milestone transit traveling southbound from the Atlantic to the Pacific Ocean on July 29."The steady increase in Neopanamax transits reflect our customers’ confidence in the Expanded Canal…
NYK Auto Logistics Pact with Adani Logistics
NYK Auto Logistics India (NALI), an NYK Group company, signed an agreement with Adani Logistics(ALL) to form a joint venture that specializes in the transportation of finished vehicles using automobile freight trains.The automotive production volume is expected to further increase in India, and there is increasing demand for transporting vehicles by rail, which places less of a load on the environment.NALI currently provides an integrated transport service for finished cars in India…
Grimaldi Christens Grande New York
The Grande New York, part of the new fleet of the Grimaldi Group, was christened in the Port of NY-NJ at Port Newark Auto Marine Terminal (FAPS). Godmother was Amanda Matilda Cuomo Cole, granddaughter of former late NY Governor, Mario Cuomo and niece of current NY Governor Andrew Cuomo. Father Peter Haldás of St. John Paul II blessed the ship during a short ceremony to a distinguished delegation composed of maritime authorities, customers, port operators and managers of Grimaldi Group and daughter company Atlantic Container Line.
MOL Announced Delivery of Beluga Ace Car Carrier
Mitsui O.S.K. Lines, Ltd. has taken delivery of the first car carrier of the next-generation “FLEXIE” series, the Beluga Ace, which was built at the Minaminippon Shipbuilding Co., Ltd. The vessel features six liftable decks, compared with two on conventional car carriers. This allows the Beluga Ace to more effectively meet demand for more diversified vehicle and high and heavy cargo transport, MOL said. The hull design is a complete departure from current car carriers, MOL said.
Panama Canal Sets New Milestone with 3,000th Neopanamax Transit
Panama Canal announced the transit of its 3,000th Neopanamax vessel, exceeding initial traffic expectations by this date and reaffirming the value and impact its route has had on global maritime trade, said a press release on Friday (March 02). The Panamanian flagged containership MSC Caterina completed the milestone transit this morning traveling northbound from the Pacific to the Atlantic Ocean. The vessel measures 300 meters in length and 48 meters in beam, with a total TEU allowance (TTA) of 9,000 containers. It was one of nine Neopanamax vessels welcomed at the Panama Canal on Friday.
MOL: New Stowage System for Car Carriers
Mitsui O.S.K. Lines, Ltd. introduced an upgraded stowage planning system for car carriers called “MOL-CAPS”. The MOL-CAPS system generates a voyage-by-voyage stowage plan that determines where to stow specific vehicles in consideration of different factors, such as the onboard structure, the type of vehicles being transported, and calling ports. The company introduced MOL-CAPS in 1999, and will adopt this new version for the next-generation car carriers, the FLEXIE series, which will be delivered starting in March 2018.
European Commission Fines Four Car Carriers $486.5mln
The European Commission (EC) said Wednesday that it had fined four maritime car carriers 395 million euros (U.S. $486.5 million). Four shipping companies – CSAV, K Line, NYK and WWL-Eukor – have been fined by the EC for collusion in operating a cartel on the car carrier trades, in breach of EU antitrust rules. All companies acknowledged their involvement in the cartels and agreed to settle the cases. Commissioner Margrethe Vestager, in charge of competition policy said:"The Commission…
Fiat Chrysler Sues Shippers over Alleged Price Fixing
The automaker wants the Federal Maritime Commission to order payments from Wallenius Wilhelmsen Logistics AS and its sister company EUKOR Car Carriers Inc, Nippon Yusen Kabushiki Kaisha, Mitsui O.S.K. Lines Ltd, Compania Sud Americana de Vapores, Hoegh Autoliners AS and affiliated companies. Fiat Chrysler filed its complaint on Oct. 17. All but one of the shippers sued by Fiat Chrysler pleaded guilty and admitted to price fixing as part of a Justice Department investigation. The remaining firm, Hoegh, agreed last month to plead guilty and pay a $21 million criminal fine.
2,000th Neopanamax Transits Expanded Panama Canal
Yesterday, the Panama Canal welcomed its 2,000th Neopanamax vessel through the waterway, demonstrating the route’s continued impact on maritime trade and the industry’s confidence in the safe, reliable and efficient service the Canal provides. The COSCO Yantian containership completed the milestone transit through the Expanded Canal traveling northbound from the Pacific to the Atlantic Ocean. The vessel measures 351 meters in length and 43 meters in beam, with a total TEU allowance (TTA) of 9,504.
Toyota Backs Japanese $1.8 Bln LNG Vessel Order
Japanese car manufacturer Toyota Motor Corporation is turning to LNG-powered ships to transport its cars across the globe, according to a report from Japanese daily Nikkei. The company has backed an investment in up to 20 LNG-powered car carriers with the capacity to carry 7,000 vehicles each, as it is preparing for the environmental regulations that will go into force in 2020. Nippon Yusen Kaisha (NYK), Kawasaki Kisen Kaisha (K Line) and Toyota’s Toyofuji Shipping are expected to be in the running for the contract, which is estimated to be approximately $1.83 billion.
MOL Car Carrier's First Call at Port of Kisarazu
Mitsui O.S.K. Lines (MOL) announced that on August 31, the MOL-operated car carrier Swan Ace (capacity: 6,400 standard passenger cars) called at the Port of Kisarazu in Chiba Prefecture and loaded 800 used vehicles. It was the first call for MOL-operated car carriers of Japan – East Africa trade. On the same day, the cargo owner, port officials, and other guests attended a commemorative ceremony at a hotel in Kisarazu City. Vast used vehicle export yards are clustered around the Port of Kisarazu.