NYK will deploy a binary cycle power generation system on a newly constructed Panamax* bulk carrier to be operated by the company. The system will generate electricity from the exhaust heat emitted by the marine engine's air cooler. In addition, NYK will provide the system developer with operational data from the ship to help improve the product.
A binary cycle power generation system for ships has been jointly developed by Kobe Steel, Ltd., Miura Co. Ltd., and Asahi Shipping Co. Ltd. and has received approval as “environmental equipment” from Japan’s ship classification society Nippon Kaiji Kyokai (ClassNK). The generated electric power will serve as auxiliary power and will reduce CO2 emissions by up to 2.3 percent by decreasing fuel consumption.
NYK has previously equipped Capesize** bulk carriers and pure car and truck carriers with hybrid power supply systems to utilize exhaust heat from engine exhaust gas. However, the binary cycle power generation system will give the opportunity to reuse engine exhaust heat to generate electricity on Pamamax vessels.
As an organization that conducts business activities globally, the NYK Group has positioned global environmental conservation as one of its most important issues and will continue its efforts to make use of advanced environmentally consciousness technology.
* Panamax: 60,000 – 119,999 dwt
** Capesize: Over 120,000 dwt
NYK has been selected for the Dow Jones Sustainability Indices (DJSI)* for a 15th straight year.
The DJSI, which is a major global index for companies engaging in socially responsible investment (SRI),** is composed of select sustainability-driven companies from over 3,400 world-wide companies invited to participate in a selection process consisting of an in-depth analysis of economic, environmental, and social criteria, such as corporate governance, risk management, water-related risks, and stakeholder relations.
As well as the FTSE4Good Index for which NYK was also selected for a 15th straight year in June this year, the DJSI is an important selection standard for investors who value corporate social responsibility and sustainability.
NYK, as a good corporate citizen, will continue to take an active role in social issues to contribute to the achievement of a better global society.
* Dow Jones Sustainability Indices (DJSI): The results of the annual DJSI review are announced jointly by S&P Dow Jones Indices LLC, the world's largest global resource for index-based concepts, data, and research, and RobecoSAM, a Switzerland-based company that conducts assessments of corporate sustainability.
** Socially Responsible Investment (SRI): investment based on not only a company’s economic performance but also its environmental measures, compliance with laws, and other corporate social responsibility factors as evaluation criteria.
Reference: The NYK Group’s CSR activities
NYK participated in the "Consortium to develop trade data sharing platform using blockchain technology," formed by NTT DATA Corporation (headquarters: Koto-ku, Tokyo, President & CEO: Toshio Iwamoto). The consortium is comprised of 14 companies from various sectors involved in trade-related business including banking, insurance, integrated logistics, import and export, and others.
Trade procedures are time-consuming, as exchange of paper-based documents is required. This consortium aims to streamline processes for trade data sharing between verticals and businesses using blockchain technology. It is the very first consortium ever launched in Japan that transcends across diverse industries in trade-related business*.
NYK Group joined the consortium for blockchain technology concerning that it has a potential to be the plat-form of logistics supply chain and it will result in improving our service in future. NYK Business Systems Co., Ltd. (headquarters: Chuo-ku, Tokyo, President: Tetsuji Madarame), an NYK Group company which oversees NYK Group’s information technology, will also actively cooperate with this consortium.
NYK Group will continue to collaborate with parties of various fields, and proactively apply information and communication technology (ICT) including IoT and big data in shipping operations, in order to meet the demands of customers and society for safe, economical, and environmentally friendly shipping operations.
Summary of this consortium
This consortium is designed to explore solutions to the challenges in trade procedures between businesses, across industries and national boundaries as well as to conduct POCs** for enhancing efficiency and reliability in trade procedures using blockchain.
Period of activity
August 2017 to March 2018 (scheduled)
Exploring solutions to issues to enable practical application
Validation of the feasibility in real-life operations (studying expected efficiency benefits included)
Examination on future possibilities to develop systems, etc.
Figure. Scope of activity of the consortium
Participant companies (Alphabetical order)
Companies listed below will participate in this consortium.
Kawasaki Kisen Kaisha, Ltd. (“K” LINE)
Mitsui O.S.K. Lines, Ltd. (MOL)
Mitsui Sumitomo Insurance Company, Limited
Mizuho Financial Group, Inc./ Mizuho Bank, Ltd.
Nippon Express Co., Ltd.
NTT DATA Corporation
Sompo Japan Nipponkoa Insurance Inc.
Sumitomo Mitsui Banking Corporation
The Bank of Tokyo-Mitsubishi UFJ, Ltd.
Tokio Marine & Nichido Fire Insurance Co., Ltd.
Toyota Tsusho Corporation
*According to a survey by NTT DATA
**POC stands for Proof Of Concept, which means a positive attempt for demonstrating that a new concept, theory, principle, and the like can be realized.