Tag: Japan

$122.4 million credit agreements Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced that it has entered into three credit agreements with Japanese governmental financial institutions amounting to US $122.4 million to finance the acquisition of three Japanese Post-Panamax class newbuild vessels.The previously-announced vessel acquisitions from Japanese shipyards relate to one vessel which was delivered in 2010 and two vessels which are expected to be delivered in 2011 and 2012, respectively. The structure of the financing is in accordance with the Organisation for Economic Cooperationand Development-approved export credit schemes.The amount is repayable over twelve years with very competitive financial terms. The credit agreements were concluded with the Japan Bank for International Cooperation, (JBIC), and Citibank Japan, Ltd acting as lead arranger.The JBIC is the international wing of Japan Finance Corporation, a Japanese governmentalfinancial institution which conducts lending, investment and guarantee operations while complementing private sector financial institutions, promoting Japanese industry.Nippon Export and Investment Insurance, the official export credit agency of Japan, insured almost half of the amount.Safe Bulkers, Inc. is believed to be the first Greece-based shipping company to enter into financing arrangements of this kind with Japanese governmental financial institutions. The transaction expands the Companys strong ...

Possibly from nearby oil tanks damaged in the March earthquake and tsunami Oil has been found leaking into the sea near the crisis-hit Fukushima nuclear power plant, possibly from nearby oil tanks that may have been damaged in the March earthquake and tsunami, the plant operator said Tuesday, adding that it will set up oil fences to prevent the liquid from spreading into the Pacific Ocean.The oil slick was found at 8 a.m. by Tokyo Electric Power Co workers who were patrolling the premises of the plant on the Pacific coast, and is believed to be spreading at a 200-300 meter range inside breakwaters.As the leakage appears to have remained inside the breakwaters, the governments Nuclear and Industrial Safety Agency spokesman Hidehiko Nishiyama said that the impact on areas outside the breakwaters is likely to be extremely limited so far.Tokyo Electric suspects that the oil may have leaked from tanks located near the water intake for the Nos. 5 and 6 reactors or pipes that deliver the oil, because the March 11 disaster took place when a tanker was supplying oil. One of the tanks was moved from its original location because of the tsunami.The tanks, each with a 960-kiloliter ...

Increase in steaming coal imports Malaysian Bulker Carriers (MBC) is anticipating the dry bulk market to recover over the medium-term with an increase in steaming coal imports in place of Japan's decommissioned nuclear power plants.The reconstruction of Japan's devastated areas are also likely to spur demand in the dry bulk sector, it added. In the short-term, the dry bulk sector will be adversely affected by the Japanese disaster as cargo volumes are taken off the market due to plant shutdowns and logistical slowdowns, the company said in a statement.As with many other dry bulk owners, MBC has experienced weak charter rates that have affected its bottomline. The Kuala Lumpur-listed firm managed to post a marginal increase in net profit in the first quarter while revenue dipped due to a 28% fall in the hire rates. MBC recorded net profit RM52.7m in the quarter ended 31 March 2011, edging up from RM51.4m in the same quarter last year as operating expenses were reduced. Revenue declined by 25.8% to RM84.9m compared to RM114.4m in the previous year's quarter.The company raised concerns over an over-tonnage market as newbuildings continue to flood the market. Managing overcapacity will remain a challenge in coming years, it ...

At Nor- Shipping 2011 May 24-27 The Norwegian and Japanese governments have signed a co-operation agreement on maritime technology at Nor-Shipping.Norwegian state secretary Rikke Lind and the Japanese transport minister Hideo Kubota signed the agreement in a special ceremony at the the week-long maritime technology exhibition in Oslo.The two countries have agreed to co-operate in technology areas such as LNG, offshore wind technology, ship recycling and environmental technologies.At the ceremony were representatives from Wilh. Wilhelmsen, Grieg Shipping, Statoil, the Norwegian Shipowners Association and the Norwegian research institute, Marintek. From Japan there were representatives from Kawasaki Heavy Industries, Japan Marine Science and the Japanese National Maritime Research Institute.Source : Seatrade Asia

Orders increased 95.9 percent in fiscal 2010 Japanese export ship orders made a strong recovery in fiscal 2010, which ended on March 31, after sinking at their fastest pace in 17 years in the previous fiscal year.According to figures released by the Japan Ship Exporters' Association, orders swelled 95.9 percent in fiscal 2010 to 12,421,600 gross tons, compared with 6,340,591 gross tons in fiscal 2009.Japanese shipbuilders received orders for 302 ships -- 282 bulk carriers, 12 oil tankers and eight general cargo vessels -- in fiscal 2010, compared with 119 ships in fiscal 2009.Early in 2010, Japan started providing official financial support through the government-affiliated Japan Bank for International Cooperation to shore up slumping vessel exports driven down by the global recession.Ship orders rose for the 16th consecutive month in March on a year-on-year basis, increasing 10.9 percent to 1,029,340 gross tons for 25 ships. But the year-on-year pace of growth slowed for the second month in a row.An official at JSEA told The Journal of Commerce last month that the earthquake and tsunami that hit the northeastern part of the country on March 11 "will have no impact on future export ship orders at all."The official explained at the ...

Information on radiation dose rate The need for the information on radiation dose rate for ships from Japan has been on the increase at the ports outside Japan since the aftermath of damage on the Fukushima nuclear power plant caused by the earthquake on 11 March 2011 and subsequent Tsunami.In the face of this need, Japanese Government (MLIT: Ministry of Land, Infrastructure, Transport and Tourism) has developed the guideline on radiation measurement for ships in order to provide foreign port authority with proper access to accurate data.Attestation for radiation dose rate will be issued if the measurement is conducted based on the guideline. ClassNK is requested by MLIT to issue an attestation in case where the measurement is conducted in Port of Keihin Yokohama Area. In this context, ClassNK issues the attestation for ships of which radiation dose rate is measured in line with the guideline in Port of Keihin Yokohama Area. ClassNK is also ready to issue an appraisal report for ships that measurement is carried out in Japanese ports other than Yokohama area. The attestation issuance procedures are shown below.A) The radiation dose rate measurement operator is to be arranged by the applicant.B) The applicant requests ClassNK (the ...

Navigation in the sea area surrounding Japan The IMO Circular Letter No. 3175 Rev1 - Subject: Navigation in the sea area surrounding Japan in the wake of the earthquake and tsunami of 11 March 2011 - issued on 1 April 2011 has been revised.Revision 2 advisesthat on 12 April 2011, the accident assessment was revised from Level 5 to Level 7 following updated information regarding the estimated amounts of radioactive material discharged to the atmosphere. Radiation monitoring around airports and seaports in Japan continues to confirm that levels remain well within safe limits from a health perspective.In addition, monitoring of passengers, crew and cargo from Japan carried out to date in other countries, in accordance with national policies, does not suggest health or safety risks. Therefore, screening for radiation at airports and seaports around the world for health and safety purposes is currently considered unnecessary.To view Circular Letter No. 3175 Rev2 click hereSource : IMO

Inspection and Submit a statement of radiation Vessels arriving in the port of Tanjung Priok from Japan must undergo inspection and submit a statement of radiation before arrival.Specifically:1. Every vessel arriving from Japan will have an inspection conducted in the quarantine zone.2. The master of every vessel arriving from Japan must make a declaration/statement that the radioactivity level of the ship and its cargo is below the permitted threshold.3. The examination of ships arriving from Japan will be made in advance by the Tanjung Priok Port Health First Class Officer. Other officers are not authorised to carry out vessel inspections.4. Officers who conduct the examination of vessels coming from Japan must wear personal protective equipment. Source: GAC Hot Port News

No present health or transportation safety hazards The United Nations organizations closely monitoring the effects of the damaged Fukushima Daiichi plant remain confident that current radiation levels do not present health or transportation safety hazards to passengers and crew.On 18 March, based on the International Nuclear and Radiological Event Scale (INES), the Japanese Ministry of Economy, Trade and Industry assessed the significance rating of the accident at the plant as Level 5. On 12 April, this assessment was revised to Level 7 following information obtained from estimations of the amount of radioactive material discharged to the atmosphere.Radiation monitoring around airports and seaports in Japan continues to confirm that levels remain well within safe limits from a health perspective. In addition, monitoring of passengers, crew and cargo from Japan carried out to date in other countries, in accordance with their national policy, does not suggest any health or safety risk. Therefore, screening of radiation for health and safety purposes is currently considered unnecessary at airports and seaports around the world.Information concerning travel and transport to and from Japan by air or sea is not dependent on the INES rating. Further information covering all aspects of the response of the Ministry of ...

Transiting the North-Eastern Pacific Ocean Region Further to the article "The Effects of the Tohoku Earthquake and Tsunami in Japan on Shipping", BIMCO has received the below message and attached advice on the "Potential Risks to Shipping Transiting the North-Eastern Pacific Ocean Region or in the Vicinity of Japan due to Radioactivity Release from Fukushima Nuclear Power Plant" from the World Nuclear Transport Institute (WNTI).In the days following the earthquake, tsunami and the incident at Fukushima power station, WNTI had several requests on the situation regarding the power station and the possible dangers associated with the release of radioactive material.The WNTI has developed the attached document which to some degree tries to explain the situation regarding the Fukushima incident, however as can be appreciated, the situation is changing every day, and therefore the attached paper provides information on various organisations where the latest information regarding advice and radioactive readings can be found.Source: BIMCO