By Mike Wackett (The Loadstar) - Less than 18 months before the IMO’s 0.5% sulphur cap regulations come into force for merchant shipping, container lines are worried that the estimated $50bn extra cost of the greener fuel could tip them into bankruptcy. “We’re all going to go bust,” MOL’s president and chief executive Junichiro Ikeda told the Financial Times. He expressed … [Read more...]
MOL: Containership ‘Windshield’ Achieves 2% Emissions Savings
Japanese shipping company Mitsui O.S.K. Lines says it has confirmed an average 2% reduction in overall carbon dioxide emissions in live tests of its containership "windshield" technology first unveiled by the company in 2015. The in-service demonstration of the windshield, which was co-developed by MOL, was carried out aboard the MOL-operated containership, MOL … [Read more...]
MOL to Build Japan’s First LNG-Powered Tug
Japanese shipping company Mitsui O.S.K. Lines announced it plans to build the first LNG-powered tugboat in Japan. The new tug will be built at Kanagawa Dockyard in Kobe with LNG dual fuel engines supplied by Yanmar Co. The company says the tugboat will be deployed in Osaka Bay beginning in April 2019, providing escort to large-scale freighters in Osaka Bay and the Sea … [Read more...]
MOL Triumph Delivered: Introducing the World’s First 20,000 TEU Containership
Japanese container shipping company Mitsui O.S.K. Lines (MOL) has taken delivery of the MOL Triumph, the new 'world's biggest containership' and the first 'megaship' to pass the 20,000 TEU threshold. The MOL Triumph was delivered Monday by Samsung Heavy Industries in Geoje, South Korea, where the vessel has been under construction since January 2016 - just 15 months … [Read more...]
Japan’s Top Shipping Lines Trim Loss Estimates
TOKYO, Jan 31 (Reuters) - Japan's top three shippers, Nippon Yusen KK (NYK), Mitsui OSK and Kawasaki Kisen Kaisha pared their full-year loss estimates on Tuesday as a downturn in the global container market stabilized and a weakening yen helped bolster earnings as they cut costs. NYK, the biggest of the three by sales, lowered its forecast for an operating loss for the year … [Read more...]