Mitsui OSK Lines (MOL) plans to build Japan’s first LNG-fuelled tugboat.

ClassNK Consulting Service (NKCS), subsidiary of Japan’s ClassNK, has launched a Bunker Fuel Oil Analysis Service.

Japan’s Kawasaki Kisen Kaisha (K Line) will merge two of its ship management subsidiaries – Taiyo Nippon Kaisha and Escobal Japan – on 1 July 2017.

Kawasaki Kisen Kaisha (K Line) reported a hefty loss of JPY139bn ($1.24bn) for FY2016 ended 31 March 2017 hit by restructuring losses and impairments.

Japan’s Nippon Yusen Kaisha (NYK Line) has suffered a massive JPY265.74bn ($2.39bn) loss for its fiscal year 2016, due mainly to extraordinary losses amounting to JPY256.83bn.

Mitsui OSK Lines (MOL) returned to the black in FY2016 ended 31 March 2017 with a $46.9m net profit for the year.

Japan’s Kobe Steel is planning to start marketing a new binary cycle power generation system for ships from next month, with commercial sales to start in April 2019.

The Competition Commission of Singapore (CCS) has given the nod to the proposed joint venture between Japan’s big three lines – Kawasaki Kisen Kaisha (K Line), Mitsui OSK Lines (MOL) and Nippon Yusen Kaisha (NYK).

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.

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