Japan’s shipping major Mitsui O.S.K. Lines has started a wide-ranging research partnership aimed at advanced navigation support system developing.

The company said it jointly agreed on the project with MOL Techno-Trade, National Institute of Maritime, Port and Aviation Technology, and Tokyo University of Marine Science and Technology.

In the joint study, all parties will conduct basic research on advanced navigation support system, which is required for safe conventional ships navigation as well as the autonomous ships of the future.

Especially, the study aims to develop a navigation support system that introduces the concept of Obstacle Zone by Target (OZT), one of the ship collision risk index, leading to the application of technologies such as Automatic Radar Plotting Aid (ARPA).

Suez Canal Wants More LNG Transits
In an effort to attract more LNG tankers to transit the Suez Canal, the Suez Canal Authority has increased the allowed level of cargo residues on LNG tankers.

“The Suez Canal Authority (SCA) always pays attention to its users’ best interest, and has recently taken more steps towards becoming more competitive when compared to other routes. LNG vessels passing Suez Canal carrying cargo till 5% of its summer deadweight ton will be treated as ballast vessel rather than loaded one saving 15% of Suez Canal tolls,” the canal authority stated.

This means that, starting on July 1, the allowed residues of LNG cargo will be 5 percent of the vessel’s summer deadweight tonnage instead of 2 percent.

The Suez Canal has reported its highest annual revenue of USD 5.85 billion, an increase of 11.5 percent from the previous year.

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Diana Containerships Sells Post-Panamax Ship

Greek boxship owner Diana Containerships has made the sale of the m/v Puelo, a Post-Panamax vessel.

The 6,541 TEU ship was sold to Japanese shipper MOL for USD 20.5 million.  

Diana plans to use the money to prepay roughly USD 19.4 million of its debt, bringing the company's outstanding debt to around USD 19.5 million, which is to be paid off once the sale of the m/v Hamburg goes through in July 2018.

After the Hamburg sale, Diana Containerships’ fleet will consist of two Post-Panamax and two Panamax container vessels.