NYK Develops Improved Propeller

A group consisting of Japan’s NYK Line, MTI Co. Ltd., and Japan Marine United Corporation (JMU) has developed a high-efficiency propeller which will achieve a 1.2 percent reduction in carbon dioxide (CO2) emissions.

The propeller will be installed on two new containerships set to be delivered in 2019. The project partners analyzed the conditions which occur in actual operation of vessel propellers. Once the simulation data was confirmed to respond to that of an actual sailing vessel, the results were used to optimize propeller design and boost fuel efficiency.  

NYK stated that the three companies “will continue to make use of their expertise to contribute to the realization of a sustainable society through the provision and operation of vessels demonstrating excellent environmental performance.”

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Maersk Oil Sale Approved

The sale of Maersk Group’s oil business to oil giant Total S.A. has been approved by the Danish Energy Agency.

The sale consists of a USD 7.45 billion combined share and debt transaction with minimal pre-conditions. Maersk will focus on the transport and logistics side of its business. The future of Maersk Drilling and Maersk Supply Service is yet to be determined.

Maersk Group is transforming from a conglomerate to an integrated global container shipper. In a statement, the company wrote:  “The Danish Energy Agency’s approval of the transfer contains conditions, including that A.P. Moller – Maersk, as seller, assumes a secondary liability for the decommissioning of existing Danish offshore facilities corresponding to Maersk Oil’s 31.2 pct interest in the Danish Underground Consortium, should Total be unable to cover such costs.”

Maersk’s financial guidance for the year 2018 remains unchanged.

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