Singapore-based NYK Bulkship (Asia) Pte. Ltd., a subsidiary of NYK Group, has signed a long-term time charter contract with Waterfront Shipping Company Limited (WFS) for a new built methanol carrier, it says.
The new ship will be equipped with an engine that allows the vessel to be powered by methanol, fuel oil, marine diesel oil or gas oil — this is the first NYK ship to make use of such technology.
After completion from the Hyundai Mipo Dockyard in 2019, the vessel will be delivered to WFS, a wholly owned subsidiary of Methanex Corporation, the world’s largest producer and supplier of methanol.
The use of methanol as a marine fuel reduces sulphur oxide (SOx) emissions by approximately 99%. The product is able to meet the International Maritime Organization (IMO) new regulations requiring a global 0.5% cap on sulphur content in marine fuels starting in 2020.
WFS ordered a total of four methanol-fuelled newbuildings from the Hyundai Mipo Dockyard at Korea on Thursday.
Photo credit: NYK Group
Published: 19 February 2018
The Covid-19 pandemic in India, where the group’s assets of between USD 45 to 60 million, accounting, and reporting capabilities are located have affected expected pace of restructuring ops, explains legal team.
Significant uptick in the number of quality claims being alleged by ship owners has also been seen since the implementation of contactless bunkering operations, notes Partner at Rajah & Tann.
‘The launch of our company website signifies the readiness of Singfar to engage with relevant stakeholders to achieve our mission of enabling sustainable trade,’ Managing Director tells Manifold Times.
Associate Director at Helmsman highlights the need to stay up-to-date with latest protocols / measures introduced by MPA, with continuous education of Master and crew of the visiting vessel.
BunkerPlanner Lite is an attempt to educate professionals engaged in bunker decisions about the use of advanced technology in the decision process, explains BunkerMetric CEO Christian Plum.
Senior Associate at Clyde & Co offers guidance to protect shipowners and bunker tanker operators in the event opposing counterparty breaches Covid-19 protocols, resulting in Covid-19 transmission.