Nippon Yusen Kabushiki Kaisha (NYK) Thursday signed a memorandum of understanding (MOU) with three energy firms on the commercialisation of a new business to supply liquefied natural gas (LNG) as a marine fuel to ships in the Setouchi and Kyushu areas of western Japan.
The joint discussions were started with Kyushu Electric Power Co., Inc., Saibu Gas Co., Ltd., and Chugoku Electric Power Co., Inc.
“The demand for LNG as a marine fuel, a practical alternative to heavy fuel oil because of its relatively low emission of air polluting substances and greenhouse gases, is expected to increase after a global 0.5% sulphur cap is introduced in 2020,” it explains.
“Therefore, NYK and the three companies have decided to examine the commercialisation of an LNG bunkering business in the Setouchi and Kyushu areas of western Japan.”
In May, NYK and a group of companies formed LNG bunkering firm Central LNG Shipping Japan Corporation (CLS), and LNG bunker tanker owning entity Central LNG Shipping Japan Corporation.
CLS placed an order with Kawasaki Heavy Industries for Japan’s first LNG bunkering vessel in early July.
Related: Japan: First LNG bunkering vessel ordered, to start ops in 2020
Related: Central LNG Marine Fuel Japan Corporation launched
Related: Japanese shipping, energy firms mull LNG bunkering business
Published: 3 August, 2018
The investment is divided into two phases with an initial investment of EUR 15.6 million up to 2022, followed by the EUR 30 million investment by 2023.
Oshima Shipyard carried out quality assessments over the past five years, and the company’s products finally meet the strict quality requirements of Japanese shipyards.
To complete a feasibility study on the LNG bunkering business by the first half of 2019.
‘We are very pleased to receive this first order from Sembcorp Marine,’ said Chairman and CEO of GTT.
The 1,380 TEU Containerships Arctic will receive 200 mt of LNG via ship-to-ship bunkering at Rotterdam.
Thun Evolve will be long-term leased by Preem for deliveries in Sweden, Norway and Denmark.
Buyers can nominate deliveries on platform and plan operations together with suppliers following ‘one single truth’ concept with all players aware of what has been agreed when and by whom, says DNV spokesman.
Rotterdam’s intention to mandate the usage of MFMs goes down well with licensed bunker supplier VT Group; MFM providers supportive of move but stressed continuous monitoring is needed for optimum performance.
Cost of alternative bunker fuels, bunker operations and technology advancement are some considerations to be examined by the maritime industry, says Neo, director of SDE International Pte Ltd.
Kim Hyung Joon and Han Donghoon were planning to join the Singapore entities of Hartree Group - either Hartree Partners Singapore Pte Ltd or Hartree Marine Fuels - in October, discovered management.
‘When you think of Helmsman on the next occasion, think of us as lawyers with expertise in various fields. Come to us before a problem develops. It’s the process that matters,’ says Tang Chong Jun, Executive Director.
Bernard Chew was a former shareholder of MB Marine and was an authorised signatory of the company’s cheques at the material time, according to court documents obtained by Manifold Times.
