Nippon Yusen Kabushiki Stock (OTC: NPNYY)

Latest news for Nippon Yusen Kabushiki (OTC:NPNYY) Stock

Nippon Yusen Kabushiki

Nippon Yusen Kabushiki Kaisha is a transportation and logistics company domiciled in Japan. The company organises itself into three divisions: global logistics, bulk shipping, and others. Global logistics, which contributes the majority of revenue, ships containers, transport air cargo, and provides logistics services. Bulk shipping, the next most significant division, transports dry bulk, including iron ore and grain; automobiles; and liquids, including oil. The other division develops and sells real estate, and operates cruise ships. The company derives the majority of revenue domestically.

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NPNYY

NYK Orders Two Heavy-Lift Ships

NIPPON YUSEN KBSHKI S/ADR by Nippon Yusen Kabushiki Kaisha

Nippon Yusen Kabushiki Kaisha

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NYK Bulk &amp; Projects Carriers Ltd., part of Japan&#39;s largest shipping company, Nippon Yusen Kabushiki Kaisha (OTC:<a class="ticker" href="/stock/NPNYY#OTC">NPNYY</a>), has signed a contract with Nanjing Jinling Shipyard Co. Ltd. for two heavy-lift ships.

NYK said the order is in response to demand for transporting cargos such as wind turbine blades, large pieces of equipment or entire plants.

The 12,470-deadweight-ton ships will be equipped with two 400-ton cranes, giving them the ability to dual hoist cargo weighing up to 800 tons.&nbsp;

The ships&#39; holds will have no bulkheads and be about 95 meters in length at a maximum. The ships will be hatch coverless, which will allow for navigation with the hatch cover open, and the bridges will be placed near the bows of the ships so that tall and large cargo does not disrupt visibility.

NYK said the ships will be a &quot;next-generation energy-saving&quot; design with a significant reduction in fuel consumption and greenhouse gas emissions compared to existing ships of the same type. They meet Energy Efficiency Design Index (EEDI) Phase 3 requirements that will become effective in 2025.

The EEDI was developed by the U.N.&#39;s International Maritime Organization IMO) in 2011 and indicates the energy efficiency of a ship in terms of the amount of carbon dioxide generated per tonne-mile carried.

The IMO <a href="http://www.imo.org/en/OurWork/Environment/PollutionPrevention/AirPollution/Documents/Air%20pollution/M2%20EE%20regulations%20and%20guidelines%20final.pdf">explained</a>,&nbsp;&quot;The intention is that by imposing limits on this index, IMO will be able to drive ship technologies to more energy-efficient ones over time. EEDI is thus a goal-based technical standard that is applicable to new ships. Ship designers and builders are free to choose the technologies to satisfy the EEDI requirements in a specific ship design. Over time, the EEDI level will reduce, this gradually leading to more energy-efficient ships.&quot;

The two ships are expected to be delivered in August 2021 and January 2022.

NYK Bulk &amp; Projects Carriers operates a fleet of 157 vessels including 45 crane-equipped multi-purpose and project vessels, two heavylift module carriers, and 110 handy and handy-max vessels that can transport a wide range of cargo used in industry, agriculture, energy supply, and urban infrastructure.

Image Sourced from Pixabay

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