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Tuesday, March 19, 2024
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Japan News

18 Mar 2024

Pressure Builds for Charge on Shipping Sector's CO2 Emissions

© Yellow Boat / Adobe Stock

The European Union, Canada, Japan and climate-vulnerable Pacific Island states are among 47 countries rallying support for a charge on the international shipping sector's greenhouse gas emissions, documents reviewed by Reuters showed.The documents, being discussed at an International Maritime Organization (IMO) meeting now entering a second week, outline four proposals with a combined 47 backers for imposing a fee on each tonne of greenhouse gas the industry produces.Support for…

14 Mar 2024

NYK Receives Data Management Award

Source: NYK

NYK received the grand award at Data Management 2024 hosted by the Japan Data Management Consortium (JDMC) on March 8.JDMC established the Data Management Award in 2014 to publicize data management's role and importance and share pioneering know-how.NYK has been developing and utilizing data lakes - a data management system for data utilization and analysis. They are suitable for collecting and storing vast amounts of data, regardless of the format or scale of the data to be stored.NYK…

14 Mar 2024

MAN Energy Solutions Delivers First Ever Ammonia-Ready SCR to Mitsui

Cluster 5 Double Layer SCR (Credit: Man Energy Solutions)

MAN Energy Solutions has announced the production of a massive Cluster 5 Double Layer Selective Catalytic Reduction (SCR) converter to MITSUI E&S.The cluster comes ammonia-ready and is the largest such unit that the company has ever built.Such systems are typically used aboard cruise ships and cargo ships to reduce nitrogen oxide emissions by 90%.“As the very first SCR for an ammonia engine anywhere in the world, this is a historic moment. As the largest, high-pressure SCR we have ever built, this marks a new milestone for our business.

15 Mar 2024

Tokyo Gas, 13 Others to Jointly Develop Offshore Wind

© New Africa / Adobe Stock

Tokyo Gas and 13 other Japanese companies plan to set up a consortium "soon" to develop technology to mass produce floating offshore wind power facilities at a low cost, the Nikkei business daily reported on Wednesday.The other companies include Japan's biggest power generator JERA and regional utilities Kansai Electric Power, Tohoku Electric Power and Chubu Electric Power, the Nikkei said.Although Japanese companies have offshore wind assets in countries from Taiwan to Belgium and Britain, they have yet to build large-scale farms at home.(Reuters- Reporting by Kiyoshi Takenaka; editing by Mil

13 Mar 2024

MOL Takes Delivery of LNG-Powered Cerulean ACE Car Carrier

(Credit: MOL)

Mitsui O.S.K. Lines (MOL) has taken delivery of the LNG-fueled car carrier Cerulean ACE, built by Japanese shipyard Shin Kurushima Dockyard.The LNG-powered car carrier Cerulean Ace features an aerodynamics design - beveled top of bow - that reduces wind resistance by 20%, according to MOL.The breadth of the vessels was widened from 32 to 38 meters. The capacity has also been increased from about 6,400 to about 7,000 vehicles.The CERULEAN ACE is the 100th vessel MOL has ordered from the Shin Kurushima Dockyard Group.The vessel will transport cars…

12 Mar 2024

Huisman to Supply Two Subsea Cranes for Toyo’s New Cable Layer

Toyo's VARD 9 15 design CLV with Huisman cranes (Credit: Huisman)

Dutch company Huisman has secured a contract to supply two subsea cranes for Toyo Construction’s new cable laying vessel (CLV), being built by Norwegian shipbuilder Vard.The contract Huisman signed with Vard is for the delivery of full electric 250 mt Hybrid Boom Subsea Crane, and a 100 mt Knuckle Boom Crane that will be integrated into Toyo’s CLV newbuild.The purpose-built VARD 9 15 design is expected to advance capabilities for cable-laying and turbine foundation installation works in the Japanese offshore wind sector.Designed to meet the specific Toyo’s requirements and preferences of Toyo…

11 Mar 2024

Yang Ming Starts Using Biofuel

Source: Yang Ming

Yang Ming Marine Transport is adopting sustainable biofuel for its fleet, starting at Hong Kong and Singapore, and will now incorporate biofuel into its annual fuel consumption on an on-going basis.The adoption of biofuel began with Yang Ming’s 1,805 TEU class container ship, YM Inception, and 6,600 TEU class container ship, YM Masculinity. These vessels are currently deployed on the Japan to/from Taiwan, Hong Kong, Vietnam and Thailand service and the Far East to/from Middle East service…

08 Mar 2024

Gram Car Carriers Refinances Viking Adventure

(Photo: Gram Car Carriers)

Norwegian shipowner Gram Car Carriers announced it has refinanced the Viking Adventure with an undisclosed Japanese bank.The new $41 million loan has a duration matching the vessels current charter ending in mid-2028 and a margin of SOFR +1.73%. This compares a margin of SOFR +4.26% under the previous lease financing which was repaid earlier this year, the company said.“We are pleased to welcome one of the premier banks in Japan in our banking group as we optimize our capital structure and cost base to maximize profit and shareholder returns.

04 Mar 2024

MAN to Offer Ammonia-Fuelled Ship Engines After 2027

Source: MAN Energy Solutions

MAN Energy Solutions plans to deliver later this year its first-ever engine fuelled by ammonia for installation on a new vessel in Japan and will be ready to offer ammonia-powered engines to its clients after 2027, its chief executive said.Ammonia is among several alternative fuels that shippers are exploring to reduce emissions. The shipping industry transports around 90% of world trade, but accounts for nearly 3% of the world's carbon dioxide emissions, and installing engines…

03 Mar 2024

Eight Japanese Ports Join The Green Award

Source: The Green Award

The Green Award Foundation has announced that eight ports managed by the Osaka Ports and Harbors Bureau have joined as new Incentive Providers, offering discounted port fees to Green Award certified vessels that call their ports.This expands The Green Award’s network to 47 ports incentivising safety and sustainability in shipping globally.Among the eight new Japanese ports are the Port of Sakai-Senboku and Port of Hannan, two major industrial ports situated in the Osaka Bay. With a long history as trading hubs…

28 Feb 2024

Swedbank Adopts Poseidon Principles

Source: Swedbank

Swedbank has signed the Poseidon Principles, a global framework for integrating climate considerations into lending decisions within ship financeThe Poseidon Principles provide a standardised methodology for data collection and reporting of emissions from banks’ shipping portfolios, with the overall ambition of supporting and facilitating the decarbonization of the shipping industry.The Poseidon Principles are consistent with the policies and ambitions of the IMO, including its…

28 Feb 2024

Qatar's Bigger LNG Expansion to Squeeze US, Other Rivals

(File photo: QatarEnergy)

Qatar's planned expansion of liquefied natural gas (LNG) production could see it control nearly 25% share of the global market by 2030 and squeeze out rival projects including in the United States where President Biden paused new export approvals, market experts say.Qatar, one of the world's top LNG exporters, plans an 85% expansion in LNG output from its North Field's current 77 million metric tons per year (mtpa) to 142 mtpa by 2030, from previously expected 126 mtpa.Some market experts said that the move will have an impact on global projects in the United States…

28 Feb 2024

ClassNK Greenlights Multi-Functional Floating Wind Support Vessel Design

MFSV for floating wind farms (Credit: K Line Wind Service)

ClassNK has awarded an approval in principle (AiP) for the design of a multi-functional floating offshore wind farm support vessel (MFSV) developed by K Line Wind Service, together with Japan Marine United Corporation, and Nihon Shipyard.The MFSV is designed to perform full moorings work scope for the installation of floating offshore wind turbines, including transportation, deployment and anchor tensioning of the mooring system.According to the companies, the vessel also features a multi-functional concept…

27 Feb 2024

Japan Continues to Lead Shipowner Rankings

© Carabay / Adobe Stock

VesselsValue has unveils this year’s top 10 shipowning nations, reviewing the total asset values for vessels by beneficial owner country. From Japan's resolute leadership in the top position with a USD 206.3 billion fleet to the emergence of Hong Kong at USD 44.7 billion, asset values and ownership strategies have changed considerably over the last 12 months, says Rebecca Galanopoulos-Jones, Senior Content Analyst, Veson Nautical.The data provided by VesselsValue and analysed by Veson is valid as of February 2024.

27 Feb 2024

NYK Receives ClassNK Certification for Offshore Wind CTV Training

(Credit: Class NK)

NYK has secured certification from ClassNK for Japan’s first training program for crew members of offshore wind industry crew transfer vessels (CTVs).The training is scheduled to be conducted at the Akita School of Wind and Sea training center in Oga City, Akita Prefecture, from April - offering three programs in total.The certification from Class NK is for simulator-based training for operating CTVs, which confirms that the training program meets quality and international standards after a review of the training framework…

26 Feb 2024

Swire Shipping Opens Branch Office in Japan

Participating in the traditional Kagami-biraki ceremony, Jeremy Sutton, CEO, Swire Shipping (center, in blue tie); Chris Robertson, Country Manager – Japan, Swire Shipping (rightmost); share a toast together with former Swire employees (blue traditional Happi coats) and the current Japan team. Image courtesy Swire Shipping

Swire Shipping commemorated the opening of its new Japan branch office in Tokyo on February 21,2024 with an event at The Palace Hotel in Tokyo, marking Swire Shipping’s official return to Japan with a physical presence.A highlight of the evening was the Kagami-biraki ceremony – the customary breaking open of a sake barrel – a tradition steeped in respect and appreciation. Esteemed long-serving former employees of Swire, who had served the company with dedication in the past, shared a toast of sake alongside the current Japan team onstage.

23 Feb 2024

The APAC Offshore Market: Riding the Wave of Success into 2024 and Beyond

Copyright Peter Hermes Furian/AdobeStock

2023 was the first year of real recovery for owners in the offshore supply market and yet we have barely skimmed the surface of what’s to come.The market is still on an upward trajectory with charter rates accelerating month-by-month, availability changing day-by-day, leading to earnings doubling and, in some segments, tripling since the lows of 2020. Current rates will remind many of the glory days of pre-2014 with the demand for OSVs projected to remain elevated for years to come.In general…

21 Feb 2024

Biden Executive Order Targets Cybersecurity at US Ports

© Brian E Kushner / Adobe Stock

President Biden on Wednesday signed an Executive Order aiming to strengthen cybersecurity at U.S. ports amid growing threats to America's vital maritime supply chains.The directive bolsters the Department of Homeland Security’s authority to address maritime cyber threats, including through the creation of new standards to ensure the security of networks and systems throughout the nation’s marine transportation system (MTS), which supports $5.4 trillion in economic activity each year."Most critical infrastructure owners and operators have a list of safety regulations they have to comply with…

21 Feb 2024

NYK Places Order for its First Japan-built Offshore Wind CTV

Rendering for NYK's first Japan-built offshroe wind CTV (Credit: NYK)

NYK Line has ordered a crew transfer vessel (CTV) for offshore wind industry from Kosaba Shipbuilding Corporation, the first such order the company placed to a local Japanese shipyard.Following delivery in late 2025 or 2026, the vessel will be used to transport technicians to construct and maintain offshore wind power generation facilities offshore Japan.The vessels will be 28 meters long, and capable of accommodating 12 passengers.By expanding its fleet of CTVs, NYK aims to play an active role in promoting sustainable energy.

13 Feb 2024

Stena Bulk Inks Deal for Four Additional Newbuild Tankers

Erik HĂĄnell, President and CEO of Stena Bulk (Credit: Stena Bulk)

Swedish shipping company Stena Bulk has expanded its fleet with new long-term charter agreements for four newbuild eco Medium Range (MR) tankers.Two of the vessels, Stena Continent and Stena Conquest, will be delivered from Hyundai Mipo by the end of 2025.Two further eco MR tankers, Stena Contender and Stena Concept, will follow in 2026. All vessels are set to use the South Korean yard’s latest 8th generation MR tanker design, which has been recognized for its excellent efficiency performance.The tankers will feature efficient fuel consumption systems…

13 Feb 2024

Four Japanese Companies Form Consortium for Eco-Friendly VLCCs Concepts

Eco-Friendly VLCC Concept (Credit: NYK)

Idemitsu Tanker, IINO Kaiun Kaisha (IINO Lines), Nippon Yusen Kabushiki Kaisha (NYK), and Nihon Shipyard have established a consortium to conduct joint research and development of design concepts for Malacca Max-type very large crude oil carriers (VLCCs).The design concepts, including machinery and environment equipment, will be developed with a view of reducing greenhouse gas (GHG) emissions, the consortium that was initiated by Idemitsu Tanker said.Aiming to reduce emissions by 40% or more compared to previous levels…

12 Feb 2024

Safe Bulkers Sells 2005-built Panamax

© Valerii / Adobe Stock

Dry bulk shipowner Safe Bulkers announced Monday it has has reached a deal to sell the oldest vessel in its fleet to an undisclosed buyer.The ship is the Maritsa, a 76,000 dwt Panamax bulk carrier built in Japan in 2005. The vessel was sold at a gross sale price of $12.2 million and a forward delivery date from April 2024 to May 2024, New York-listed Safe Bulkers said.Dr. Loukas Barmparis, president of Safe Bulkers, said, “We continue our strategy to selectively sell older vessels…

12 Feb 2024

Future Ships: Picture Perfect

(Image: Siemens)

Big data, advanced computers and AI are allowing vessel designers to prepare models that leave essentially nothing to chance.“Lastly, it may be of considerable importance to form from the draught a block model of the vessel from which a still more accurate judgment may be formed of the fitness and beauty of the body. And should any defect be discovered, farther alterations must still be made, till the draught and the model are perfectly approved of. These different alterations and repeated calculations may appear very tedious…

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