Foreign demand for Iranian crude has more than doubled since sanctions against Iran were lifted early last year, according to new data from Vessels Value. 

Japan’s NYK slumped to a near $2bn loss in the first nine months of FY2016 as it took massive impairments on cancelled charter contracts.

The smallest of Japan’s K Line reported a JPY54.58bn ($468.5m) loss for the first nine months of the financial year ended 31 March 2017, but noted signs of recovery were “beginning to appear”.

With just a few days to go before a decision needs to be made, Japanese conglomerate Mitsubishi looks to be the leading contender for the construction and operation of Indonesia's Patimban Port.

Japan’s big three shipping groups, K Line, MOL and NYK, have announced an integration of their container shipping business with the establishment of a joint venture by 1 July 2017 and the commencement of joint servce from 1 April 2018.

Japan’s Kawasaki Heavy Industries (KHI) has come up with an innovative expandable LNG-fuel tank for ships that can store up to five times more LNG than existing designs, reports said.

Mitsui OSK Lines (MOL) returned to the black in the first quarter of financial year ended 31 March 2017.

The Japanese government has launched a feasibility study for LNG bunkering in the port of Yokohama, making this the first LNG bunkering facility development project in Japan.

AAL Japan celebrated its one-year anniversary in Tokyo, and the party mood is one of cautious optimism for Japan’s project cargo exports market.

ClassNK is continuing its expansion with the opening of a third exclusive survey office in France.

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