November 15th, 20190SK Gas, Korea National Oil Corporation and MOL Chemical Tankers have entered into an agreement to jointly develop a chemical terminal at the Port Ulsan in South Korea. Under the agreement, the three firms will set up a joint venture called Korea Energy Terminal to develop a chemical terminal with 2.73m barrels of tank capacity....
November 14th, 20190Mitsui OSK Lines (MOL) has ramped up its bow wind-shield designs for larger boxships. Together with Samsung Heavy Industries, MOL has received an approval in principle for its latest large Bow Wind-Shield, which the Japanese carriers believes will cut CO2 output by 2 to 4% on ultra large containerships. MOL first developed and...
November 12th, 20192Four Japanese conglomerates are proceeding with a deepwater FPSO charter project off Brazil. MODEC, Mitsui & Co, Mitsui OSK Lines (MOL) and Marubeni Corporation will invest in a long-term charter in an FPSO for use in Petrobras’s Búzios field off the coast of Brazil. Mitsui, MOL and Marubeni will invest in Buzios5 MV32, a Dutch...
November 11th, 20190 Japanese shipbuilder Mitsui E&S Holdings is slashing its workforce and pushing through a restructuring. Local financial newswire Nikkei is reporting the yard is about to lay off around 10% of its staff, while the company is expected to stop building commercial ships at its Chiba shipyard. The yard has two drydocks and has been...
November 8th, 20190A fire broke out onboard the 8,900 dwt product tanker near Horsburgh Lighthouse, eastern Singapore Strait, yesterday forcing 18 crew onboard the ship to be evacuated. The incident happened when the vessel was en route from Singapore to the Philippines. According to Maritime and Port Authority of Singapore (MPA), the Singapore...
November 6th, 20190Japan’s Ocean Network Express (ONE) will be the only major container carrier to operate no scrubbers come the start of the global sulphur cap in 56 days’ time. According to Alphaliner data, ONE is the only top 10 carrier that will not have scrubbers on any of its containerships by 2020. At its latest earnings conference, ONE...
November 6th, 20190Japanese owner Kawasaki Kisen Kaisha (K Line) has entered into a newbuilding contract with Japan Marine United for the construction of a 210,000 dwt bulk carrier. The vessel, to be fitted with a scrubber, will be chartered to JFE Steel for iron ore and coal transportation upon completion in 2021. "Our coal & iron ore carrier...
November 4th, 20190Japanese owner Abo Shoten, which this year is celebrating its 60th anniversary, has acquired 2016-built Tsuneishi supramax , according to broking sources. Both Seasure Shipbroking and Advanced Shipping & Trading are both reporting that Abo Shoten has forked out $20.8m to compatriot owner Kambara Kisen for the vessel. The price is...
October 31st, 20190Sue Libenson from NGO Pacific Environment is worried about where next month’s decarbonising talks at the IMO might head. The International Maritime Organization’s next round of talks on decarbonising shipping begins shortly on November 11. Fortunately, there are good short-term policies on the table that can achieve up to 30%...
October 31st, 20190Japan's MODEC has signed a contract with ConocoPhillips Australia Barossa to supply a floating production storage and offloading vessel for the Barossa field, offshore Australia. The Barossa FPSO will produce gas and condensate from subsea wells and supply feed gas to the Darwin LNG Plant via a gas export pipeline. MODEC was...
