• 2018 February 16 11:00

    WFS, Marinvest, IINO, Mitsui, NYK to build four new ocean-going vessels capable of running on methanol

    Waterfront Shipping Company Ltd. (WFS), Marinvest/Skagerack Invest (Marinvest), IINO Kaiun Kaisha, Ltd. (IINO), Mitsui & Co., Ltd. (Mitsui), and the NYK Group (NYK) announce their investment to build four new ocean-going vessels powered by clean-burning methanol fuel. These four 49,000 dead weight tonne vessels will be delivered in 2019 and built with MAN B&W ME-LGI two-stroke dual-fuel engines that can run on methanol, fuel oil, marine diesel oil or gas oil, MAN said in its press release.

    The vessels will join the existing seven methanol-fueled vessels chartered by WFS. In 2016, WFS, Marinvest, Mitsui O.S.K. Lines, Ltd., and Westfal-Larsen Management announced the delivery of these seven fuel-efficient ocean-going vessels to the sea. These innovative vessels are built with the first-of-its kind MAN B&W ME-LGI two-stroke dual fuel engines and have achieved accolades from the marine industry for their use of clean-burning methanol as an alternative fuel.
     
    As a safe, biodegradable and clean-burning fuel, methanol is a promising alternative marine fuel that can meet new and existing environmental regulations from the International Maritime Organization (IMO) that require vessels to decrease emissions of sulphur oxide and nitrogen oxides. By using methanol rather than conventional marine fuel, the vessels produce significantly fewer emissions than conventional vessels.

    The four new vessels will be built in Korea at Hyundai Mipo Dockyard, where several of the first generation of methanol-fueled vessels were built. WFS will charter the four vessels to replace older vessels and support growing demand for methanol around the world. Two of the vessels will be owned in a joint venture between WFS and Marinvest, one will be owned by NYK and the fourth will be owned in a joint venture between IINO and Mitsui.

    About Waterfront Shipping
    Waterfront Shipping, a wholly owned subsidiary of Methanex Corporation, is a global marine transportation company specializing in the safe, responsible and reliable transport of bulk chemicals and clean petroleum products to major international markets in North America, Asia Pacific, Europe and Latin America. Waterfront Shipping operates the world's largest methanol ocean tanker fleet with its fleet comprising vessels from 3,000 to 50,000 dwt. Its fleet of 28 modern, deep sea tankers forms a seamless transportation network dedicated to keeping an uninterrupted flow of methanol moving to storage terminals and customers' plant sites around the world.
     
    About Methanex Corporation
    Methanex Corporation is a Vancouver-based, publicly traded company and is the world's largest producer and supplier of methanol to major international markets in North America, Asia Pacific, Europe and South America. Methanex global production hubs are strategically positioned to supply every major global market and currently operates production sites in Canada, Chile, Egypt, New Zealand, Trinidad and Tobago and the United States. Its global operations are supported by an extensive global supply chain of terminals, storage facilities and the world’s largest dedicated fleet of methanol ocean tankers. Methanex shares are listed for trading on the Toronto Stock Exchange in Canada under the trading symbol "MX" and on the NASDAQ Global Market in the United States under the trading symbol "MEOH".
     
    About Marinvest/Skagerack Invest
    Marinvest is a private shipping and investment Group, part owners and managers of product and chemical tankers. Holdings include investments in tankers of about 80,000 dwt, chemical tankers between 20,000 to 50,000 dwt, a developing coastal shipping company and real estate.
     
    About NYK Group
    Nippon Yusen Kabushiki Kaisha is one of the world's leading transportation companies. At the end of March 2017, the NYK Group was operating 799 major ocean vessels, as well as fleets of planes and trucks. The company's shipping fleet includes 372 bulk carriers, 111 car carriers, 97 containerships (including semi-containerships), 70 LNG carriers (including those owned by equity method affiliates), 63 tankers, 43 wood-chip carriers, one cruise ship, and 42 other ships (including multipurpose and project cargo vessels). NYK's revenue in fiscal 2016 exceeded $17 billion, and as a group NYK employs about 36,000 people worldwide. NYK is based in Tokyo and has regional headquarters in London, New York, Singapore, Hong Kong, and Sao Paulo.
     
    About IINO Kaiun Kaisha, Ltd
    IINO Kaiun Kaisha, Ltd. is a publicly-listed Japanese company with a history dating back to 1899. IINO currently operate global shipping business and real estate business. As of the end of December 2017, IINO group operates a diverse fleet of over 100 vessels including chemical tankers, oil tankers, drybulk carriers, LNG tankers, LPG tankers and small gas carriers, while also active in the real estimate business by owing five office buildings in central Tokyo. For Chemical tankers segment, IINO is one of the leading companies and operates various sizes of vessels trading world-wide.
     
    About Mitsui & Co., Ltd.
    Mitsui is one of the most diversified and comprehensive trading, investment and service enterprises in the world, with 138 offices in 66 countries as of Feb, 2018. Utilizing our global operating locations, network and information resources, we are multilaterally pursuing business that ranges from product sales, worldwide logistics and financing, through to the development of major international infrastructure and other projects in the following fields: Iron & Steel Products, Mineral & Metal Resources, Infrastructure Projects, Integrated Transportation Systems, Chemicals, Energy, Food, Food & Retail Management, Healthcare & Service, Consumer Business, IT & Communication Business, Corporate Development Business. Mitsui is actively taking on challenges for global business innovation around the world.
     
     
    About MAN Diesel & Turbo
    MAN Diesel & Turbo SE, based in Augsburg, Germany, is the world’s leading provider of large-bore diesel and gas engines and turbomachinery. The company employs around 15,000 staff at more than 100 international sites, primarily in Germany, Denmark, France, Switzerland, the Czech Republic, India and China. The company’s product portfolio includes two-stroke and four-stroke engines for marine and stationary applications, turbochargers and propellers as well as gas and steam turbines, compressors and chemical reactors. The range of services and supplies is rounded off by complete solutions like ship propulsion systems, engine-based power plants and turbomachinery trains for the oil & gas as well as the process industries. Customers receive worldwide after-sales services marketed under the MAN PrimeServ brand.




2020 April 2

12:01 ABS expands remote survey services
11:28 IMO urges keyworker exemptions for crew changes and repatriations
11:18 Tallink Grupp’s vessel Victoria I to make two return trips on Tallinn-Helsinki-Tallinn route on 2-3 April
10:43 Russian President signs Decree on establishment of Marine Instrument Engineering Corporation
10:21 Brent Crude futures price is up 12.5% to $27.83, Light Sweet Crude – up 10.5% to $22.44
10:06 Jan De Nul nears completion of fabrication of foundations for Taiwan’s Changhua Offshore Wind Farm
10:00 Financing of Nizhegorodsky hydrosystem project to be redistributed in favor of NOVATEK’s projects
09:59 VARD signs contract with P/F Akraberg for the design and construction of a sophisticated unit
09:46 MABUX: Bunker market this morning, Apr 02
09:19 Baltic Dry Index is down to 624 points

2020 April 1

18:36 Diana Shipping announces direct continuation of time charter Ccontract for m/v Myrto with Cargill
18:06 CMA CGM to apply Port Congestion Surcharge for reefer cargo to Philippines (Manila and Subic ports)
17:54 Oil shipments via CPC Marine Terminal in 3M’20 climbed by 4.7% YoY to 16.93 million tonnes with new monthly record set in March
17:35 New BIO SEA BWTS approved by USCG and IMO
17:20 Throughput of port Azov in 3M’2020 fell by 19% to 1.38 million tonnes
17:05 PowerCell signs contract with leading European shipyard regarding fuel cell system worth MSEK 77
16:35 The EU funded FLAGSHIPS project supports construction of a hydrogen fuel powered barge push boat
16:04 Wärtsilä receives contract to upgrade 11-year old Vessel Traffic Monitoring and Information System (VTMIS) serving ports in Cyprus
16:02 Höegh LNG applies for LNG import licence in Cyprus
15:30 OOCL updates Trans-Pacific services in April & May
15:04 THE Alliance announces COVID-19 response measures for April 2020
14:53 Frigates of RF Navy's Black Sea Fleet conducted exercise in Mediterranean Sea
14:43 Launch of Dimecc’s Sea for Value programme paves the way for remote pilotage and safer fairway navigation
14:22 Wärtsilä launches actions to mitigate the impact of COVID-19 and withdraws its market outlook
14:19 Competition announced for construction of Bagayevsky hydrosystem’s Phase 2
13:26 Transit navigation opened in Azov-Don Basin of Russia’s IWW
13:02 Ocean Yield extends standstill agreement and restructuring outline with Solstad Offshore for the vessels Far Senator and Far Statesman
12:00 ABS to class a series of Silver Eagle self elevating drilling units
11:25 Russian Railways' network loading down 3.8% to 306.7 million tonnes in 3M’ 2020
11:01 New shipping service gives boost to growing breakbulk segment in Rotterdam
10:42 Start of cruise navigation season postponed at Passenger Port of Saint-Petersburg
10:14 APM Terminals Mobile completes phase-three expansion to increase capacity
09:54 Brent Crude futures price is down 2.2% to $25.78, Light Sweet Crude – down 0.1% to $20.46
09:33 Bunker prices continue falling at the port of Saint-Petersburg, Russia
09:16 MABUX: Bunker market this morning, Apr 01
09:12 Baltic Dry Index is down to 625 points

2020 March 31

18:06 APM Terminals Nigeria donates $US 200,000 to UN Nigeria Basket Fund
17:51 New publication offers updated maritime security guidance for mariners operating off West Africa and Gulf of Guinea
17:36 Manila ports fear shut down due to continued cargo congestion
17:20 Floating workshop of RF Navy's Baltic Fleet completed tasks in Mediterranean Sea
17:06 Yang Ming reveals 2019 financial report
16:55 State Duma of Russia approved in first reading expansion of resource base for LNG production projects
16:23 Rolls-Royce supplies innovative propulsion system for new multi-purpose vessels in the North and Baltic Seas
16:18 Nauticor and Novatek cooperate in the development of small-scale LNG supply infrastructure in the Baltic Sea
15:28 Bunker prices continue going down at the Far East ports of Russia (graph)
15:04 ClassNK establishes "Rules for the Survey and Construction of Governmental and Naval Ships"
14:42 NOVATEK declares LNG transshipment in Norway to be a temporary measure caused by Covid-19 pandemic
14:23 Wärtsilä Translink becomes first ever solution fully compliant with latest IEC and DNV GL Cyber Security rules
13:36 Krasnoye Sormovo to build three more ships of RSD59 design
13:09 Hapag-Lloyd revises North Europe – CAF May 1, 2020
12:51 Navigation season opens at Coal Sea Port of Shakhtersk
12:27 Krasnoye Sormovo shipyard completed sea and mooring trials of Pola Yaroslava, dry cargo carrier of Project RSD59
12:09 Verifavia partners with OSM Maritime Group to provide IHM services
11:44 Operations under quarantine arranged by Troitsa Bay Seaport (MPBT)
11:30 Vostochny Port arranged operations under quarantine
11:08 ABS supports U.S. COVID-19 response
10:45 Cruise shipping to be suspended in the port of Kiel until end of April
10:08 COSCO SHIPPING Holdings announces 2019 results
09:46 MABUX: Bunker market this morning, Mar 31
09:33 Baltic Dry Index is down to 548 points