NYK

Knot Offshore Partners LP Earnings Release—interim Results for the Period Ended December 31, 2023

Retrieved on: 
Monday, February 26, 2024
Oil, Gas, Energy, Maritime, Transport, Other Energy, Acquisition, Shuttle, TotalEnergies, ATM, Growth, Sale, Partnership, Exercise, Petrobras, NYK, Employment, Public expenditure, Agent, Construction

The Partnership does not apply hedge accounting for derivative instruments, and its financial results are impacted by changes in the market value of such financial instruments.

Key Points: 
  • The Partnership does not apply hedge accounting for derivative instruments, and its financial results are impacted by changes in the market value of such financial instruments.
  • On January 9, 2024, the loan facility secured by the Dan Sabia was repaid in full with a $10.4 million payment.
  • In May 2024, the loan facility secured by the Hilda Knutsen is due for repayment, for which the balloon repayment is $57 million.
  • Management believe that such facility will be refinanced on acceptable and similar terms prior to maturity.

KNOT Offshore Partners LP Earnings Release—Interim Results for the Period Ended September 30, 2023

Retrieved on: 
Wednesday, December 13, 2023
Maritime, Other Energy, Transport, Oil, Gas, Energy, Other Transport, EBITDA, Partnership, Sale, Employment, Master limited partnership, SOFR, FPSO, Knutsen NYK Offshore Tankers, Asset-backed security, Depreciation, Bank statement, Exercise, Shell, Repsol, GAAP, Adjustment, NYK, Total, Growth, LIBOR, Cryptocurrency, Airline, Renting, Beauty salon, Security (finance), Equinor

For the three months ended September 30, 2023 (“Q3 2023”), KNOT Offshore Partners LP (“KNOT Offshore Partners” or the “Partnership”):

Key Points: 
  • For the three months ended September 30, 2023 (“Q3 2023”), KNOT Offshore Partners LP (“KNOT Offshore Partners” or the “Partnership”):
    Generated total revenues of $72.7 million, operating income of $20.6 million and net income of $12.6 million.
  • Vessel operating expenses for Q3 2023 were $23.2 million, a decrease of $2.1 million from $25.3 million in Q2 2023.
  • Depreciation was $27.5 million for Q3 2023, a decrease of $0.6 million from $28.1 million in Q2 2023.
  • Interest expense for Q3 2023 was $18.5 million, an increase of $0.4 million from $18.1 million for Q2 2023.

Cenlar Appoints Two New Directors and Promotes One to Enterprise Portfolio Management Office

Retrieved on: 
Monday, December 4, 2023
Consulting, Banking, Professional Services, Finance, Project Management Institute, Project Management Professional, Webster, PMO, Mentorship, EPMO, SIRVA, QBE, PMP, FSB, Business administration, Culminating project, Fiserv, Villanova University, Webster Bank, NYK, Accenture, Program management, University, Azure, Quinnipiac University, Management information system, University of Phoenix, Bachelor, QBE Insurance, Merrill (company), Certification, AWS, Management

Cenlar FSB, the nation’s leading mortgage loan subservicer, announced today that Kelly O’Donnell and Karen Sim have joined Cenlar as Directors of Enterprise Portfolio Management, and Darrin Borell has been promoted to Director of Enterprise Portfolio Management.

Key Points: 
  • Cenlar FSB, the nation’s leading mortgage loan subservicer, announced today that Kelly O’Donnell and Karen Sim have joined Cenlar as Directors of Enterprise Portfolio Management, and Darrin Borell has been promoted to Director of Enterprise Portfolio Management.
  • The Enterprise Portfolio Management Office (EPMO) team is led by Vice President of Enterprise Portfolio Management Gabe Rinaldi.
  • Kelly O’Donnell, to Director of Enterprise Portfolio Management.
  • Darrin joined Cenlar in 2021 as the Manager of Enterprise Portfolio Management.

Participating in the Second Stage of the Nippon Foundation MEGURI2040

Retrieved on: 
Friday, July 21, 2023
Insurance, TST, SK, Joint technological education district, Nippon Yusen, Nabtesco, MHI, Project management, Transport, Hong Kong Fir Shipping Co Ltd v Kawasaki Kisen Kaisha Ltd, Environment, Brain, Foundation (nonprofit), Certification, Mitsubishi Research Institute, Honda, NYK, PMO, NTT Communications, Project management office, Marubeni, RORO, Ship, SKY PerfecTV!, Workload, Research, SKY Perfect JSAT, Nippon Foundation, Mitsubishi Heavy Industries, JSAT Corporation, Shipbuilding, Limited, LTD

On July 20, the Nippon Foundation held a seminar(3) on the MEGURI2040.

Key Points: 
  • On July 20, the Nippon Foundation held a seminar(3) on the MEGURI2040.
  • At the seminar, an overview of the second stage of MEGURI2040 and the project's initiatives were presented.
  • This program is positioned as the second stage of MEGURI2040, which started in 2020, and aims for full-scale commercialization of fully autonomous ship technology by 2025, which was developed in the "Joint Technological Development Program for Demonstration of Fully Autonomous Ship," which was carried out as the first stage, in cooperation with the Nippon Foundation.
  • Mitsubishi Shipbuilding participated in the first stage of MEGURI2040 as the representative company of the DFFAS Consortium, the predecessor of DFFAS+, and will continue to serve as the representative company of DFFAS+ in the second stage of MEGURI2040.

Mitsubishi Shipbuilding Holds Christening and Launch Ceremony in Shimonoseki for LNG Bunkering Vessel KEYS Azalea

Retrieved on: 
Wednesday, July 12, 2023
Mitsubishi Heavy Industries, Carbon dioxide, Nippon Yusen, KEYS, GHG, Setouchi region, Sulfur oxide, Carbon, Ship, NOx, MHI, Work, Azalea, Natural gas, Particulates, NYK, Enoura Maru, LTD, CO2, Kyushu, LNG

TOKYO, July 12, 2023 - (JCN Newswire) - Mitsubishi Shipbuilding Co., Ltd., a Mitsubishi Heavy Industries (MHI) Group company based in Yokohama, today held a christening and launch ceremony for a liquefied natural gas (LNG) bunkering vessel, the first to operate in western Japan, built under contract for KEYS Bunkering West Japan Co., Ltd.

Key Points: 
  • TOKYO, July 12, 2023 - (JCN Newswire) - Mitsubishi Shipbuilding Co., Ltd., a Mitsubishi Heavy Industries (MHI) Group company based in Yokohama, today held a christening and launch ceremony for a liquefied natural gas (LNG) bunkering vessel, the first to operate in western Japan, built under contract for KEYS Bunkering West Japan Co., Ltd.
  • The new vessel, christened KEYS Azalea, is scheduled for handover in March 2024 following outfitting work and sea trials.
  • The KEYS Azalea is equipped with a dual fuel generator engine capable of using both LNG and marine diesel oil as fuel, a first for LNG bunkering vessel in Japan.
  • Mitsubishi Shipbuilding will contribute to reducing greenhouse gas (GHG) emissions in the maritime industry by building ships to supply LNG fuel.

Mitsubishi Shipbuilding and NYK Line Obtain Approval in Principle (AiP) from Japan's Classification Society ClassNK for Ammonia and LCO2 Carrier

Retrieved on: 
Thursday, June 29, 2023
Carbon, Building material, Mitsubishi Heavy Industries, International Code of the Construction and Equipment of Ships Carrying Liquefied Gases in Bulk, AIP, Classification, Commitment, Nippon Yusen, Nippon Kaiji Kyokai, Mitsubishi Group, Ammonia, Movement, MHI, Acquisition, Utilization, NYK, Knowledge, Transport, CO2, Safety, CCUS, Coal, Principle

Ammonia is attracting worldwide interest as a next-generation clean energy that does not emit CO2 during combustion.

Key Points: 
  • Ammonia is attracting worldwide interest as a next-generation clean energy that does not emit CO2 during combustion.
  • Mitsubishi Shipbuilding and NYK Line have been working on the technological development of ammonia or LCO2 dedicated carriers, and both companies have already been collaborating on the technical development of large LCO2 carriers.
  • With this acquisition of AiP, the two companies will utilize their accumulated knowledge of ammonia and LCO2 to aim for the safe and economical transportation of ammonia and LCO2 on the same carrier.
  • NYK Line will contribute to realizing a carbon-neutral society by promoting the establishment of the CCUS value chain and the ammonia value chain.

LNG Bunkering Market Analysis: Forecast Growth Rate, Competitive Landscape And Top Segments - By The Business Research Company

Retrieved on: 
Monday, July 10, 2023
Shell, Shell plc, OSV, CMA CGM, CMA, World Fuel Services, Gaz-System, Nippon Yusen, KEYS, Crowley Maritime, Ship, Korea Gas Corporation, Natural gas, NYK, TotalEnergies, Fuel oil, LNG

LONDON, July 10, 2023 /PRNewswire/ -- As per The Business Research Company's LNG Bunkering Global Market Report 2023, the LNG bunkering market size is expected to grow from $0.7 billion in 2022 to $1 billion in 2023 at a compound annual growth rate (CAGR) of more than 50%. The LNG bunkering market size is then expected to grow to $5.1 billion in 2027 at a CAGR of more than 48%. The market is expected to grow due to drivers such as increase in number of vessels and ships, demand for LNG fuel, and marine decarbonization needs.

Key Points: 
  • The LNG bunkering market size is then expected to grow to $5.1 billion in 2027 at a CAGR of more than 48%.
  • The global LNG bunkering market is concentrated, with a few large players in the market.
  • The development of environmentally friendly LNG bunkering vessels is becoming a key trend in the LNG bunkering market.
  • Major companies in the LNG bunkering market are focusing on strategic partnerships to strengthen their capabilities in the market.

LNG Bunkering Market Analysis: Forecast Growth Rate, Competitive Landscape And Top Segments - By The Business Research Company

Retrieved on: 
Monday, July 10, 2023
Shell, Shell plc, OSV, CMA CGM, CMA, World Fuel Services, Gaz-System, Nippon Yusen, KEYS, Crowley Maritime, Ship, Korea Gas Corporation, Natural gas, NYK, TotalEnergies, Fuel oil, LNG

LONDON, July 10, 2023 /PRNewswire/ -- As per The Business Research Company's LNG Bunkering Global Market Report 2023, the LNG bunkering market size is expected to grow from $0.7 billion in 2022 to $1 billion in 2023 at a compound annual growth rate (CAGR) of more than 50%. The LNG bunkering market size is then expected to grow to $5.1 billion in 2027 at a CAGR of more than 48%. The market is expected to grow due to drivers such as increase in number of vessels and ships, demand for LNG fuel, and marine decarbonization needs.

Key Points: 
  • The LNG bunkering market size is then expected to grow to $5.1 billion in 2027 at a CAGR of more than 48%.
  • The global LNG bunkering market is concentrated, with a few large players in the market.
  • The development of environmentally friendly LNG bunkering vessels is becoming a key trend in the LNG bunkering market.
  • Major companies in the LNG bunkering market are focusing on strategic partnerships to strengthen their capabilities in the market.

Shipping companies and supply chain showcase climate ambition ahead of critical climate negotiations

Retrieved on: 
Monday, June 5, 2023
Wallenius Wilhelmsen, Science, Private sector, Science Based Targets initiative, Nor-Shipping, 2019 UN Climate Action Summit, COP28, Initial IMO Strategy on the reduction of GHG emissions from ships, Global supply chain management, Paris Agreement, International Maritime Organization, MEPC, Classification, Hard, Nippon Yusen, GHG, Temperature, Government, Ship, Inter IKEA Holding, United Nations Global Compact, Climate change, IMO, UN, NYK, Global Sustainability Assessment System, Renewable energy

We need to see more of them incorporating the SBTi maritime guidance this September at the Climate Ambition Summit hosted by the UN Secretary-General.

Key Points: 
  • We need to see more of them incorporating the SBTi maritime guidance this September at the Climate Ambition Summit hosted by the UN Secretary-General.
  • Over 11,000 companies have joined the UN-backed Race to Zero campaign who have committed to collectively halve emissions by 2030, but only 7 shipping companies.
  • So we expect that the SBTi maritime guidance could serve as a valuable reference for many shipping companies.
  • Elisabeth Munck af Rosenschöld, Global Sustainability Manager, IKEA Supply Chain Operations, said: “We need to accelerate the transformation towards zero emission ocean shipping.

KNOT Offshore Partners LP Earnings Release— Interim Results for the Period Ended March 31, 2023

Retrieved on: 
Thursday, May 25, 2023
Professional Services, Maritime, Transport, Oil, Gas, Energy, Finance, Shell, Lender option borrower option, Insurance, FPSO, Employment, Partnership, Transpetro, Dry, Bank statement, LIBOR, Knutsen NYK Offshore Tankers, GAAP, Sale, Partnership accounting, EBITDA, Documentation, Altera, Depreciation, NYK, Adjustment, Eni, Total, TotalEnergies, Cryptocurrency, Airline, Bank, Security (finance), Construction, Video game

For the three months ended March 31, 2023, KNOT Offshore Partners LP (“KNOT Offshore Partners” or the “Partnership”):

Key Points: 
  • For the three months ended March 31, 2023, KNOT Offshore Partners LP (“KNOT Offshore Partners” or the “Partnership”):
    Generated total revenues of $71.2 million, operating income of $17.7 million and net loss of $1.3 million.
  • Reported $52.4 million in available liquidity, which included cash and cash equivalents of $52.4 million at March 31, 2023.
  • On March 28, 2023, a new time charter party for the Fortaleza Knutsen was signed with Transpetro for a firm period of three years.
  • On April 11, 2023, a new time charter party for the Recife Knutsen was signed with Transpetro for a firm period of three years.