Business

Japanese Shipowners’ Association supports net zero GHG emissions by 2050

JSA plans to carry out PR activities to promote the Japanese shipping industry’s efforts among a wide range of stakeholders and ordinary people.

Published

5 years ago

November 2, 2021

Admin

The Japanese Shipowners’ Association (JSA) on Tuesday (26 October) announced its support for net zero Greenhouse Gas (GHG) emissions by 2050 during a press conference with COP26 and IMO MEPC 77 in sight.

President of the JSA, Junichiro Ikeda, shared his insights regarding the shipping industry’s cooperation and the impact of net zero GHG emission in the future at the press conference:

The world is pressing ahead with initiatives to realise a sustainable society. For the shipping industry, whose field of operations is the world’s oceans, the reduction of GHG as a measure to grapple with climate change is an issue of the most vital importance.
With COP26 in sight, the whole world, including Japan, is moving GHG reduction measures forward aggressively. In the circumstances, the Japanese shipping industry has committed itself to the challenge of 2050 Net Zero GHG as a current and future leader in the global shipping field.
Through this challenge, Japanese shipping will actively continue to contribute to the preservation of the global environment and believes that active efforts towards GHG reduction will create a new source of competitiveness for the industry.
Making efforts throughout the whole supply chain, such as research and the development of new ships and new fuels and the establishment of fuel supply facilities, will be needed for 2050 net zero GHG.
The transition to zero-emission vessels, which will be powered by new fuels such as carbon recycled methane, hydrogen and ammonia, is essential. For the Japanese merchant fleet, composed of about 2,200 vessels alone, it is thought that an average of 100 ships per year will need to be built, requiring investment in shipbuilding of about US$10 billion annually for 25 years to 2050.
In addition, not only efforts by the industry itself but also cooperative actions with relevant industries will be required to take on the challenge of 2050 net zero GHG. Cooperation with a wide range of stakeholders, including the energy industries, the port industry, cargo owners and trading companies as well as the shipbuilding industry, will be indispensable.
The industry expects the Japanese government to continue to lead discussions at the IMO about the revision of its Initial GHG strategy, set to begin next month, and reduction measures, pledging full support for the government.
Today, Mr Tetsuo Saito, Minister of MLIT, said that the Japanese government proposed 2050 carbon-neutral target to the IMO and welcomed this JSA’s challenge. The JSA feels very encouraged by the Minister’s statement and welcomes it.
The Japanese shipping industry strives to play an infrastructural role in people’s lives and industry in not just Japan but the world as well as a leading role in the activities of the IMO and is working with a wide range of stakeholders in society to achieve overall carbon neutrality. The industry is rising to the challenge of net zero GHG, on the way to attaining a sustainable society. The JSA thanks all stakeholders for their ongoing support, understanding and encouragement.

At the press conference, the JSA also published the PR material Japanese Shipping Industry: The Challenge of 2050 Net Zero GHG. The material explains the industry’s efforts and stance towards GHG reduction clearly and is available via the following link.

https://www.jsanet.or.jp/GHG/pdf/en.pdf

The JSA plans to carry out PR activities in order to foster a better understanding of the Japanese shipping industry’s efforts among a wide range of stakeholders and ordinary people.

The video of the press conference and the following lecture about the PR material will be available on the website (only in Japanese).

https://www.jsanet.or.jp/GHG/index.html

Photo credit: Peter Hansen from Unsplash
Published: 2 November, 2021

Legal

Singapore withdraws remaining 127 charges against Hin Leong founder OK Lim

Lim Oon Kuin, also known as OK Lim, was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges on 17 July.

Published

13 hours ago

July 21, 2026

Admin

Founder of collapsed oil trader Hin Leong Trading, Lim Oon Kuin, also known as OK Lim, has had the remaining 127 charges against him withdrawn, according to The Straits Times on Monday (20 July).

OK Lim was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges, including those for cheating, on 17 July. The discharge means Lim cannot be prosecuted again for the same offences.

Lim, 84, is currently serving a 13½-year prison sentence after the High Court reduced his original 17½-year jail term in March 2026. He was convicted in 2024 on two cheating charges and one count of abetting forgery in a case prosecutors described as one of Singapore’s most serious trade finance frauds.

Lim was convicted in May 2024 of two charges of cheating the Hongkong and Shanghai Banking Corporation (HSBC) and one count of abetting forgery that proceeded to trial out of a total of 130 criminal charges.

He was first charged in court on 14 August 2020, and was subsequently handed further charges in court on 25 September 2020, 30 April 2021 and 24 June 2021 for his role in perpetuating fraud on various financial institutions.

A total of 130 charges were eventually brought against him for cheating and forgery-related offences.

Photo credit: Sora Shimazaki
Published: 21 July, 2026

Winding up

Singapore: Coastal Logistics Pte Ltd to be wound up voluntarily

Coastal Logistics was reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd.

Published

13 hours ago

July 21, 2026

Admin

Several resolutions for Coastal Logistics Pte Ltd were made during an extraordinary general meeting held on 14 July, according to a notice in the Government Gazette on Friday (4 July).

The following resolutions were duly passed during the meeting:

As Special Resolution

That it has been proved to the satisfaction of the meeting that the Company cannot by reason of its liabilities continue its business and accordingly the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018 (No. 40 of 2018);

As Ordinary Resolutions

that Mr. Wong Pheng Cheong Martin and Ms. Koay May Yee, both care of FTI Consulting (Singapore) Pte Ltd, One Raffles Quay, #27-10 South Tower, Singapore 048583 be appointed as the joint and several Liquidators of the Company for the purpose of such winding up; and
that the Liquidators be at liberty to open, maintain and operate any bank account(s) or account(s) for monies received by them as Liquidators with such bank(s) as they deem fit; and
that a Committee of Inspection will not be formed.

Manifold Times previously reported Nicholas James Gronow, director of Heng Tong Fuels & Shipping and Coastal Logistics, filed statutory declarations for both companies stating the firms cannot continue their businesses due to liabilities.

Both companies were reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd.

In 2019, several vessels owned by both firms entered the sale & purchase (S&P) market in Singapore.

Photo credit: Drew Beamer
Published: 21 July, 2026

LNG Bunkering

PIL’s LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on LNG and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

Published

13 hours ago

July 21, 2026

Admin

PIL's LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

Singapore-based Pacific International Lines Pte Ltd on Monday (20 July) said its first 13,000 TEU LNG dual-fuel container vessel, Kota Elok, recently made her maiden call to Singapore on 15 July.

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on liquefied natural gas (LNG) and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

The vessel also incorporated energy-saving features and digital technologies to reduce fuel consumption and enhance operational performance, as well as a bow windshield to improve aerodynamics, contributing to improved fuel efficiency and lower emissions over the course of long-haul voyages.

“Following Singapore, Kota Elok will continue her voyage on our East Coast Service 1 (ES1) route to South America, calling at ports in Brazil, Uruguay, and Argentina before returning to Asia,” the company said in a social media post.

Kota Elok also became PIL’s first vessel to receive Lloyd’s Register certification for compliance with the IACS UR E26 and UR E27 cyber security requirements.

Developed by the International Association of Classification Societies (IACS), UR E26 and UR E27 are mandatory cyber resilience requirements for newbuild vessels contracted from 1 July 2024.

Photo credit: Pacific International Lines
Published: 21 July, 2026