LNG

Japanese shipping company Mitsui OSK Lines (MOL), whose energy business fleet includes over 150 tankers for oil and other products and about 90 LNG carriers, reported tumbling profits and a fall in revenues amid global shipping market disruptions.

Nippon Kaiji Kyokai, the Japanese maritime classification society known as ClassNK, has approved the concept and design of an LNG-powered large Capesize bulk carrier put forward by Japanese shipping companies NYK Line and Japan Marine United.