NYK in Charter Agreement with Mitsubishi
Japanese shipping and logistics giant Nippon Yusen Kabushiki Kaisha (NYK) has signed long-term contracts with Diamond Gas International Pte. Ltd. (DGI), a wholly owned subsidiary of Mitsubishi Corporation (MC) located in Singapore, for DGI to charter from NYK three newly built liquefied natural gas (LNG) carriers.Previously, NYK concluded long-term time-charter contracts for three new LNG vessels for MC’s Cameron LNG project, so these most recent contracts bring the total to six carriers for MC.The NYK Group will be responsible for ship management for the three ordered LNG carriers…
NYK Line Signs TC for Two LNG Carriers with Total
Japanese shipping giant NYK has signed a long-term contract with a unit of French energy giant Total to charter two liquefied natural gas (LNG) carriers.According to the contract, Total Gas & Power Chartering Ltd (TGPCL) will charter from NYK two newly built liquefied natural gas (LNG) carriers that will be built by Samsung Heavy Industries Co. Ltd. in Korea and scheduled for delivery in 2021.The two LNG carriers will be equipped with a WinGD-made dual-fuel slow-speed diesel engine (i.e.…
'World's First' Zero Emission Marine Biofuel Test Successful
Netherlands-based supplier of sustainable low carbon marine fuels GoodFuels Marine in conjunction with bulker and tanker owner and operator NORDEN A/S, has successfully completed trials of the world’s first zero emission, ‘drop in’ Heavy Fuel Oil (HFO)-equivalent marine biofuel – almost entirely reducing all carbon and sulphur emissions.A press release from the pioneer in sustainable marine fuels said that the culmination of three years extensive research and development with partners including Royal Dutch Boskalis and technology group Wärtsilä…
Singapore Marine Fuel Sales at 5-month High
Singapore marine fuel sales in October climbed 3 percent on year to a five-month high of 4.125 million tonnes, according to data released by the Maritime and Port Authority of Singapore (MPA) on Tuesday.The latest sales volumes were 0.3 percent higher compared to September, it showed. The higher October sales volumes reflect a slight increase in the number of ships coming to Singapore for refuelling, or bunkering, amid buoyant freight trade and easing concerns of contaminated fuels…
Yara Marine Has Big Expectations for 2019
Many shipowners are scrambling to comply with the tough, new the International Maritime Organization (IMO) fuel global sulfur limit of 0.50 percent m/m, which takes effect January 1, 2020.It is expected that after the rules swing into force, the light-heavy fuel price spread will likely spike and refining margins will be higher, particularly for complex refineries.Shipowners have to stay ahead of the game, said Yara Marine Technologies CEO Peter Strandberg: “Shipowners often get a bad rap of refusing to adopt new, innovative technologies and processes.
NYK Signs LNG Charter Deal with Total
NYK Line has signed a contract with Total Gas & Power Chartering Limited (TGPCL), a subsidiary of Total, a leading oil and energy company headquartered in France.The contract calls for TGPCL to charter from NYK a newly built liquefied natural gas (LNG) carrier for seven years, with an optional extension period of one year. The new vessel will be built by Samsung Heavy Industries Co. Ltd. in Korea and is due to be delivered in 2021.The LNG carrier will be equipped with a WinGD-made dual-fuel slow-speed diesel engine (i.e.…
GoodShipping Program Becomes First Fossil-Free Sea Cargo Transportation
The GoodShipping Program, which claims to be the world’s first global initiative established to decarbonise shipping through the use of sustainable low carbon marine fuels, has announced that five pioneering shippers are the first to save CO2 emissions through the scheme.The delivery of advanced, sustainable marine fuel by GoodFuels Marine means that the shippers participating in the inaugural program – Tony’s Chocolonely, Dopper, Blygold, Magic Marine and Mystic – collectively reduced their carbon footprint by over 40 tons."In collaboration with our partners GoodFuels Marine and Samskip…
MV Priscilla Successfully Re-floated
The cargo ship MV Priscilla was successfully re-floated, said Her Majesty's Coastguard (HM Coastguard), a section of the Maritime and Coastguard Agency in UK.Following an initial assessment it was agreed she was in safe condition to be towed to Scapa Flow, Orkney Isles.The vessel will arrive tomorrow morning and will go to safe anchorage where a further assessment, including an underwater dive inspection, will be carried out.The ship with six crew on board ran aground on the Pentland…
Enterprise Adds Vessel Fueling Capabilities at Houston
Enterprise Products Partners, as of June 1, 2018, is the exclusive provider of residual marine fuel (RMG 380) and marine gas oil (MGO) at its Enterprise Hydrocarbons Terminal (EHT) on the Houston Ship Channel. RMG 380 and MGO are the primary transportation fuels used by deep-draft vessels that dock at the EHT facility. “Being able to fuel ships as they load and offload product at our EHT marine terminal significantly streamlines the process, saving our customers time and money by not having to stop at a third party facility,” said A.J.
Cruise Ship Construction: China Rising
China earns cruise newbuild business, aims for ship financeWhile China has steadily built shipbuilding market share, cruise ship construction – more specifically mastering the logistical complexities inherent in cruise ship design, outfit and construction – has proved elusive. But it appears that Chinese shipbuilders have turned the corner, with contracts signed for the first cruise newbuilds. We were in Tianjin, China, earlier this year for the 4th Annual China Maritime Finance Forum for a look behind the covers of passenger vessel in China…
Singapore Reports Higher May Bunker Fuel Sales
Singapore marine fuel sales climbed to a four-month high of 4.283 million tonnes in May, up 1.2 percent from the previous month and 2.5 percent higher compared with a year ago, data from the Maritime and Port Authority of Singapore (MPA) showed on Wednesday.The strong volumes sold in May were largely in line with industry expectations and come despite sharply higher bunker fuel prices due to rising crude oil prices and shortages of finished grade bunker fuel oil during the month.The cost of 380-centistoke (cst) fuel oil cargoes, the mainstay bunker fuel for large vessels, in May averaged $433
Environmental Regs Drive Work for Gibdock
With owners required to respond to new rules on invasive species and emissions, Gibraltar-based Gibdock reports it is seeing a stronger than expected surge in interest in ballast water management system and exhaust gas scrubber work. Richard Beards, Managing Director of the Western Med’s gateway repair facility, attributes the upturn in inquiries to the yard’s enduring advantages of location, quality of work and on-schedule redelivery.“We have undertaken significant ballast water work over the last 18 months and in the first half of 2018 we have had more enquiries than ever before…
Europe’s First LNG Dredger Conversion Underway
Work has kicked off at Damen Shiprepair Dunkerque to convert the trailing suction hopper dredger (TSHD) Samuel de Champlain from diesel-electric propulsion to dual-fuel capability combining marine gas oil (MGO) and liquefied natural gas (LNG). A ceremony was held at the yard to mark the first cutting of steel for the prefabrication of a new section of hull that will hold the new generators and other equipment.Present at the occasion were Jean-Pierre Guellec, CEO of GIE Dragages-Ports…
Singapore Marine Fuel Sales at 3-month High
Singapore marine fuel sales climbed to a three-month high of 4.233 million tonnes in April, up 1.6 percent from the previous month but 0.5 percent lower from the same time last year, data from the Maritime and Port Authority of Singapore (MPA) showed on Monday.In a signal of steady demand for marine fuels, the firm April sales volumes came despite rising fuel costs and supply disruptions of some bunker fuels towards the end of the month, trade sources said.The cost of 380-centistoke (cst) fuel oil cargoes, the mainstay bunker fuel for large vessels, in April averaged $385 per tonne in Singapor
ExxonMobil Launches MFMS for Marine Gas Oil in Singapore
ExxonMobil said it is launching its mass flow metering system (MFMS) for marine gas oil (MGO) in Singapore, with the first barge deliveries set to start in May 2018.The Maritime and Port Authority of Singapore (MPA) has mandated that all distillates must be delivered via a MFMS from July 1, 2019. ExxonMobil worked closely with the MPA during a trial that was concluded in October 2017 and is now in a position to launch its MFMS for MGO deliveries ahead of the deadline.According to ExxonMobil…
Hamburg Süd, Electrolux partner for SO2 Reductions
Hamburg Süd and its Swedish customer Electrolux are teaming up to reduce sulfur dioxide emissions in ports. During its layovers in Manzanillo, Mexico; Callao, Peru; and Iquique and Puerto Angamos, Chile. Between March 11 and 24, the 7,114 TEU containershp Santa Catarina voluntarily used cleaner marine gas oil (MGO) instead of standard heavy fuel oil (HFO) to operate its auxiliary engines and boilers. Hamburg Süd and Electrolux already carried out a fuel upgrade in the past, thereby making a contribution to environmental and health protection.
Mitsui LNG Carrier Named Marvel Falcon
On March 29, a naming ceremony was held at Geoje Shipyard of Samsung Heavy Industries Co., Ltd. in Korea, for new liquefied natural gas (LNG) carrier that NYK has concluded a long time-charter contract with Mitsui & Co. Ltd. At the ceremony, the ship was named “Marvel Falcon” by Mr. Tatsuo Yasunaga, president and chief executive officer of Mitsui & Co., Ltd. and the ceremonial rope holding the vessel in place was cut by Mr. Yasunaga’s wife. From NYK, Hitoshi Nagasawa, Representative Director, Senior Managing Corporate Officer attended.
Adventure Bound: Sunstone Ships Climbs to New Heights
Niels-Erik Lund began his passenger ship career in 1969 as a trainee in a Danish passenger shipping company, DFDS. In the nearly 50 years since, the passenger and cruise shipping industry has changed many times over, with consistent growth being the only similarity between then an now. Today Lund, President & CEO of Sunstone Ships, Inc., has an unfettered view of the expedition cruise sector that he helped to create. With the expedition and luxury cruise segments set for fast growth, Maritime Reporter spoke to Lund to help put the market in better perspective.
WFW Advises NYK on LNG Carrier Charter
Watson Farley Williams (WFW) advised NYK Nippon Yusen Kabushiki Kaisha (NYK) on the execution on 26 January 2018 of its long-term charter contract with EDF LNG Shipping, a subsidiary of the electricity major, Electricité de France (EDF). The contract is for the chartering of a newly built liquefied natural gas (LNG) carrier for seven years, with optional extension periods for up to thirteen additional years. WFW also worked closely with the commercial and in-house legal teams at NYK, Hyundai Samho Heavy Industries and EDF on the construction arrangements for the vessel for the project.
NYK Signs Charter with EDF LNG Shipping
Japanese shipping company NYK Line announced that it signed a contract with EDF LNG Shipping, a subsidiary of Electricité de France (EDF), to charter a newly built LNG carrier for a total of seven years, with optional extension periods for up to 13 more years. The vessel will be built by Hyundai Samho Heavy Industries in Korea and is due to be delivered on April 30, 2020. The vessel will be fitted to EDF’s specific requirements and will have a 174,000-cubic meter capacity membrane…
LNG: Maritime's Fuel of the Future
The move to LNG as fuel in the maritime sector picks up steam, as CMA CGM announced plans to outfit nine of its new 22,000 TEU containerships with LNG fueled engines. A trend that started in the United States is spreading to the world, as global containershipping giant CMA CGM announced its intention to outfit its series of new 22,000 TEU containerships with LNG-fueled engines. The move to ‘clean fuel’ in the maritime sector has been rapid, spurred by new rules from the International…
Emissions Regulations Present Strategic Opportunity
The marine industry as a whole is responsible for about 2.5 percent of global greenhouse gas emissions. Shipbuilders and fleet owners have spent the last two decades adjusting to shifting emissions regulations since the introduction of the MARPOL Convention 1997 Protocol, which included specific regulations for the reduction of air pollution from marine vessels. Since then, there have been additions and amendments to ensure that the industry is doing its bit to better support the environment, with the latest regulation pulling forward lower caps in global emissions.
No Clear Route to 2020 Sulphur Cap Compliance -Survey
The route to compliance with the International Maritime Organization (IMO) 2020 0.5 percent global sulphur cap is unclear for many vessel operators, according to a marine industry survey conducted by ExxonMobil. Some 70 percent of respondents saying that they do not believe the industry is ready for the deadline, highlighting an ongoing sense of confusion and lack of preparedness. The makeup of the marine fuel mix in 2020 and beyond is an area of concern, with wide-ranging views from the industry on how the landscape will evolve.