Mitsui News

10 Nov 2019

SHI Losses Widen

Pic:  Samsung Heavy Industries

South Korean Samsung Heavy Industries (SHI) reported its third-quarter net loss of 583.2 billion won (US$ 503.8 million), compared with a KRW80.30 billion loss in the same quarter a year earlier, staying in the red compared with a year ago.The loss widened sharply in the wake of a cancelled shipbuilding deal. Mitsui Ocean Development & Engineering Co. (MODEC) was recently selected as the floating production, storage and offloading (FPSO) unit supplier for the Barossa Project in Australia.

08 Nov 2019

MOL Conducts LNG Bunkering at Nagoya Port

Bunkering LNG fuel, From the left: Toho Gas, Executive Vice President, Shinji Niwa, MOL, Executive Vice President, Takeshi Hashimoto. Photos: MOL

Japanese utility Toho Gas and shipping company Mitsui OSK Lines (MOL) carried out a demonstration test to supply liquified natural gas (LNG)  to the to the tugboat Ishin at the Japanese port of  Nagoya.This marked the first LNG bunkering in the Port of Nagoya, and the test confirmed that LNG can be safely supplied to vessels at the port.LNG was transported via truck from the Toho Gas Chita-Midorihama LNG Terminal (Chita-shi, Aichi Prefecture), and supplied with a truck-to-ship system to Ishin…

05 Nov 2019

MOL Adds Southern Treasure to its Fleet

Southern Treasure at sea trial. Pic: Mitsui O.S.K. Lines

Japanese shipping company Mitsui O.S.K. Lines (MOL) has announced that the new scrubber-equipped wood chip carrier Southern Treasure has been delivered.The delivery ceremony for the 60,300 dwt vessel with with a cargo capacity of 4.3 million-cubic feet was held at Oshima Shipbuilding, Nagasaki Prefecture.MOL will operate the vessel, which transport wood chips for Hokuetsu Corporation, said a press release."The vessel is equipped with a SOx scrubber and Ballast Water Management System (BWMS) to comply with today's stricter environmental regulations…

30 Oct 2019

CSB: Chemical Leak Caused Fire at ITC Houston Terminal

The Houston, Texas Refining Complex (Credit: AdobeStock / © Irina K

The U.S. Chemical Safety Board (CSB) said on Wednesday that a fuel leak, possibly due to open valves and a running pump, set off a massive blaze at a Mitsui & Co Ltd petrochemical storage operation along the Houston Ship Channel in March.The fire that began on March 17 at Intercontinental Terminals Co (ITC) spread black smoke across Houston, shut the nearby ship channel, slowed production at local oil refineries and closed roadways and schools as it spread from one giant storage…

28 Oct 2019

Mitsui, Sempra Energy Sign LNG Deal

Pic: Sempra Energy

North American energy infrastructure company Sempra Energy and Japanese trader Mitsui & Co. have entered into a memorandum of understanding (MOU) under which the latter would take part in the Cameron LNG Phase 2 project in Louisiana.The MoU also encompasses a future expansion of the Energía Costa Azul (ECA) LNG project in Baja California, Mexico."This agreement signals continued momentum in the growing U.S. liquefied natural gas (LNG) export market, while reinforcing the unique competitive advantage that Sempra offers customers seeking LNG export capabilities from the Gulf Coast…

27 Oct 2019

MOL Upgrades VR-based Safety Education Tool

VR image of the "virtual reality experience area". Pics: MOL

Japanese transport company Mitsui O.S.K. Lines (MOL) announced the development of new content for its virtual reality (VR)-based marine safety education program, allowing trainees to virtually capture the sensations of "falling", "hand being caught between something", and experiencing "an incinerator explosion incident".The program uses VR goggles and VR technology created by Tsumiki Seisaku. With the VR tool, trainees can experience onboard operations, with computer graphic simulations of moving around on the ship…

25 Oct 2019

Gas Entec Wins Asia's Largest LNG Bunkering Vessel Gig

Image: Gas Entec

Gas Entec, a unit of Atlantic Gulf & Pacific Company (AG&P), has secured a contract from Sembcorp Marine Integrated Yard (Sembcorp Marine).Under the contract, Gas Entec will provide the engineering, procurement and construction (EPC) of the cargo handling system for a 12,000 cubic meter LNG bunker vessel owned by Indah Singa Maritime, a subsidiary of Mitsui OSK Lines, operating out of Singapore.Gas Entec claimed that it is the world-standard in engineering for small- and mid-scale LNG infrastructure and other applications with specific expertise in cargo containment…

24 Oct 2019

MES-S Delivers 66,000 Dwt Bulker Newbuild

Image: Mitsui E&S Shipbuilding

Japanese shipbuilder Mitsui E&S Shipbuilding (MES-S) has handed over a 66,000 dwt bulk carrier to Liberia-based Tomaros Navigation at its Tamano Shipyard.The newbuild is named M/V Tomaros."This is the 20th ship of our "neo66BC", the "wide beam shallow draft vessel" of our line-up "neo series"," said the shipbuilder.Featuring a length of 200 meters and a width of 36 meters, the 38,234 GT bulker flies the flag of the Bahamas.Tomaros has four cranes and five cargo holds, and keeps the superior usability of 56BC.The vessel is designed to have enough deadweight more than 66…

22 Oct 2019

WFW Advises on Race Bank Wind Farm Deal

Image: WFW

Watson Farley & Williams (WFW), an international law firm based in London, said that it has advised Race Bank Wind Farm Limited on its USD 608 million sale of transmission system assets relating to the 573 MW Race Bank offshore wind farm to Diamond Transmission Partners.Race Bank is a joint venture owned by Ørsted (50%), Macquarie European Infrastructure Fund 5 (25%), a fund established by Sumitomo Corporation, Sumitomo Mitsui Banking Corporation and Development Bank of Japan (12.5%)…

18 Oct 2019

Total’s First LNG Bunker Vessel Launched

Photo: Total

Total said its first large liquefied natural gas (LNG) bunker vessel has been launched, following the signature of a long-term charter contract between Total and Mitsui O.S.K Lines (MOL) in February 2018.After delivery in 2020, the bunker vessel will operate in Northern Europe, where it will supply LNG to commercial vessels, including 300,000 tons per year for CMA CGM’s nine ultra-large newbuild containerships in Europe-Asia trade, for a period of at least 10 years.The LNG bunker…

17 Oct 2019

MOL Intros AR Navigation System

Pic: MOL

Japanese transportation major Mitsui O.S.K. Lines (MOL) announced that, along with Furuno Electric, it made a joint presentation of their advanced augmented reality (AR)-based Navigation System.The presentation introduced the background behind the technology and development of the system, as well as MOL’s efforts to "forge ahead to become the world leader in safe operation."The AR Navigation System provides visual support to crew-members during their watch-keeping and ship operations by using AR technology to superimpose real-time video imagery and voyage information.Large tankers…

15 Oct 2019

MOL, Tohoku Trial Hard Sail on a Coal Carrier

Pic: MOL

Mitsui O.S.K. Lines (MOL) and Tohoku Electric Power have announced that they intend to move ahead with a joint study to install the Wind Challenger telescopic hard sail system on a coal carrier.MOL said that the two companies have been studying the feasibility of using the Wind Challenger on ships carrying coal to Tohoku Electric’s thermal power plants and it was recently confirmed that a Wind Challenger-equipped vessel would be 'acceptable' in the port facilities serving the plants.Wind Challenger is a telescoping hard sail to convert wind energy to propulsive force…

15 Oct 2019

MOL Tabletop Drill on Containership Safety

Scenes of Emergency Control Headquarters during the drill. Photos: MOL

Japanese shipping giant Mitsui O.S.K. Lines (MOL) announced that it conducted a tabletop drill based on an incident simulation involving an MOL-owned containership.MOL holds these drills periodically to confirm its emergency response system in preparation for serious marine incidents, said a press release.The drill was held on Thursday, October 10, with the goal of raising company-wide safety awareness through the simulation of a serious marine incident. The drill was designed…

13 Oct 2019

MOL Trials 360 Birds-Eye-View Tugboat

Bird's-eye view of the Asaka Maru using "FlyingView". Image: MOL

Japanese shipping line Mitsui OSK Lines (MOL) collaborated with Oki Electric Industry (OKI), to launch a joint study on the use of OKI's bird's-eye view monitoring system to monitor a 360° field of view around a tugboat.The system was installed on the tugboat Asaka Maru and a preliminary experiment was conducted, said a press release.As a tugboat approaches a large vessel for assistance, only a small part of the vessel's hull can be seen from tug's bridge, and therefore, the tugboat…

09 Oct 2019

Cargill, Maersk & Mitsui to Collaborate on Emissions

Photo: Maersk Tankers

Cargill, Maersk Tankers and Mitsui & Co. have established a strategic collaboration to accelerate the reduction of global greenhouse gases (GHGs) within shipping. All three parties recognize the urgency required to tackle the global issue of climate change and are continually driving progress in their respective lines of business. Today, they are joining forces to accelerate these efforts and propel the maritime industry towards a more sustainable future.Together, the companies…

07 Oct 2019

Transborders Signs up MOL on FLNG Solution

Image: Transborders Energy

Perth-based company Transborders Energy has entered a Joint Study Agreement (JSA) to work with Japan's Mitsui OSK Lines (MOL) to together continue the development of its Floating LNG (FLNG) Solution and to pursue its deployment on a range of stranded offshore gas resource opportunities.Transborders’ FLNG Solution provides a pre-determined 1.3 MTPA FLNG development concept with a package of streamlined commercial & regulatory approval framework (including LNG buyers) to gas resource owners.

04 Oct 2019

MOL Gets AIP for Wind Challenger Design

Image: MOL

Japan’s shipping major Mitsui O.S.K. Lines and Oshima Shipbuilding have jointly obtained Approval in Principle (AIP) from Nippon Kaiji Kyokai  (ClassNK) for the design of a hard sail system.The system converts wind energy to propulsive force with telescopic hard sail, and is a fundamental technology of the "Wind Challenger Project"  that MOL and Oshima Shipbuilding are spearheading.Along with other participating organizations, MOL and Oshima Shipbuilding have played a central role in research and development on the Wind Challenger Project…

27 Sep 2019

Japanese Backers for Novatek's LNG Complexes

Image: Novatek

Russia’s largest independent natural gas producer and LNG project operator Novatek has formed ties with Japan's shipper Mitsui O.S.K. Lines (MOL) and Japan Bank for International Cooperation (JBIC) to collaborate on liquefied natural gas (LNG) projects.The three companies will implement projects for construction of a marine LNG transshipment complexes in Kamchatka Territory and Murmansk Region, including possible acquisition of participation interest in projects and potential financing of projects.“We have already started successful cooperation with Japanese companies in large LNG projects…

26 Sep 2019

MOL Names LNG Carrier for Yamal Project

Photo: MOL

Japan’s shipping major Mitsui O.S.K. Lines (MOL) held a naming ceremony for a conventional LNG carrier, jointly ordered by MOL and China COSCO Shipping Corporation, was held at Hudong-Zhonghua Shipbuilding.Featuring a capacity of 174,000 m3, the newly built vessel was named LNG Dubhe after a star in the constellation Ursa Major. The vessel is the first of four newbuilding conventional LNG carriers for the Yamal LNG project.The LNG DUBHE is scheduled to go into LNG transportation…

18 Sep 2019

MOL Trials LNG-Fuelled Tugboat at Kobe

LNG fuel bunkering. Pic: MOL

Japanese shipping company Mitsui O.S.K. Lines (MOL) has taken part in the first bunkering of liquefied natural gas (LNG) into a tugboat at the Port of Kobe, Japan.At the Port of Kobe, the tugboat “Ishin” was bunkered with LNG. It is the first LNG-fuelled tugboat in Japan and it is operated by a MOL group subsidiary, Nihon Tug-Boat.LNG fuel for the trial was hauled by a tanker truck from the Himeji LNG Plant of Osaka Gas, and, via a truck-to-ship system, was used to supply Ishin, berthed at Kobe Port’s Shinko Pier No.4. MOL Marine Co.

13 Sep 2019

MOL Tests FOCUS EYE Project

Sample display image from the vessel recognition/recording system. Photo: MOL

Japanese shipping giant Mitsui O.S.K. Lines announced the joint development, along with SenseTime Japan, of a new vessel image recognition and recording system, and the system’s installation for demonstration testing aboard the cruise ship "Nippon Maru" operated by Mitsui O.S.K. Passenger Line.The system’s graphic recognition engine was developed by incorporating MOL’s knowledge and applying artificial intelligence (AI) deep learning technology, allowing it to recognize surrounding…

13 Sep 2019

Sovcomflot, NYK Pact on Financing 2 LNG Carriers

Photo: Sovcomflot

Russian maritime shipping company specializing in petroleum and LNG shipping Sovcomflot (SCF Group) and NYK Line have announced that they have signed a new $176 million non-recourse credit facility for eight years with three leading international banks.The banks are: Sumitomo Mitsui Banking Corp. of Japan (through its German subsidiary, SMBC Bank EU AG); Société Générale of France; and Shinsei Bank of Japan. The agreement was reportedly signed through joint venture companies belonging…

12 Sep 2019

LNGC Containment Market to Reach $16Bln By 2025

Image: Teekay LNG Partners

The global liquefied natural gas (LNG) carrier containment market was USD 11.21 billion in 2018 and is expected to reach around USD15.56 billion by 2025, growing at a CAGR of 4.9% between 2019 and 2025.The LNG carrier containment market is majorly driven by the rising demand for natural gas from various industries and LNG’s growing number of residential and commercial applications, said a report by Zion Market Research.Furthermore, LNG has witnessed an exponential increase in its demand as an automobile fuel in recent past…

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