Several companies within Japan's NYK Group have partnered to test the remote navigation of a tugboat in Tokyo Bay.The tugboat, operated by NYK's Shin-Nippon Kaiyosha Corporation, was equipped with a manned remotely controlled system and put to the test by NYK and its group companies MTI Co. Ltd., Keihin Dock Co. Ltd., and Japan Marine Science Inc. (JMS).
The sulfur regulation from the International Maritime Organization (IMO) that came into force on 1 January 2020 took the center stage in the shipping industry at outset of the new decade. Four months on, the spotlights have turned to the coronavirus and the OPEC+ oil price war.The outlook for global economic growth remains bleak as the world is faced with the largest recession since the Great
The coronavirus outbreak has affected all aspects of the shipping industry, lowering, if not wiping out, demand growth prospects for the year across all segments. The outbreak has also affected fleet development, says shipping association BIMCO.Contracting activity has fallen, demolition activity, which had been high
If one ever needed proof that, no matter how dire the situation, there is always a silver lining, look no further than the crude tanker market, which has seen it day rates skyrocket in the face of a global pandemic that has effectively ground world commerce to a crawl.As is the case with other gravity defying business phenomena, geopolitics is a central factor
Bouchard Transportation Co. reports all back pay has been processed as the company continues to work to raise capital that would allow it to return its vessels to service, the company's president and CEO Morton S. Bouchard III said Tuesday in a letter to staff, customers and vendors.The full letter is below:To Bouchard Transportation Co., Inc.
Even before the effects of the coronavirus, the ‘Phase One’ agreement between China and the US failed to boost volumes of the implicated goods in January. In fact, exports of the manufactured, agricultural and energy goods included in the deal were down 26% from January 2017, which serves as the base year for the agreement.
For several months last year, a steady stream of ships was observed dredging sand in a North Korean bay then transporting it to China, a Washington-based think-tank said on Wednesday.The extraction of sand from North Korea to China would violate a 2017 U.N. Security Council resolution that prohibits North Korea from “supplying, selling, or transferring sand”
Norway's national economic crime unit raided the local office of international shipping company Teekay Offshore this week on suspicion of illegally exporting waste, the agency, known as Okokrim, said on Thursday.In recent years, courts in Europe using tougher regulations have fined shipping companies for transporting hazardous waste for disposal in cases that have added to complexities for
Today, Sunshine Pride, an NYK-operated coal carrier for Joban Joint Power Co. Ltd., was delivered by Japanese builder Tsuneishi Shipbuilding Co. Ltd.Under a long-term contract, this vessel will be dedicated to the transport of coal to generate electricity at the Nakoso Power Station in the city of Iwaki, Japan.
Keppel Offshore & Marine Ltd (Keppel O&M) delivered the 6000m3 Trailing Suction Hopper Dredger (TSHD) Sanderus to Jan De Nul Group.The Ultra-Low Emission vessel (ULEv) is the fourth dredger that Keppel O&M has delivered to Jan De Nul Group.According to a press release from the shipbuilder, this follows the delivery of three 3500m3 TSHDs earlier this year
South Korean shipbuilding conglomerate Hyundai Heavy Industries (HHI) Group has officially started the process to earn approval from anti-trust regulators for its proposed takeover of Daewoo Shipbuilding and Marine Engineering Co. (DSME).HHI has submitted a request for the formal approval from the South Korea’s Fair Trade Commission (FTC), as well as from antitrust authorities in Japan, China
China's two largest shipbuilders are planning to merge, their listed arms said in separate exchange filings on Monday, the latest to join a wave of mergers among state-owned enterprises as the government overhauls the sector.The move by China Shipbuilding Industry Corp (CSIC) and China State Shipbuilding Corp Ltd (CSSC)