Latest News

News Categories

NYK Corporate - Video

NYK to Participate in the Ownership of Canola Oil Venture in Tsunami Recovery Effort

NYK has concluded a contract with United Green* for partial ownership of a canola flower field along the Sanriku shoreline, an area that suffered extensive damage from the tsunami that accompanied the Great East Japan Earthquake in 2011. United Green is a general incorporated association that has implemented a recovery project involving canola flower fields in Kamaishi city in Iwate prefecture. To improve the landscape and help develop a sustainable regional industry, canola flowers have been planted in farmlands that had been damaged by salt or simply abandoned. The oil produced from the canola flowers will be marketed under the brand name “Yuicco.”

This contract will make NYK an owner of a specific area of the canola flower field. The company will organize volunteers to assist with the project, and the oil will be sold inside the company so that employees who may not have the opportunity to visit the region can be a part of the recovery effort and maintain a connection with the area’s residents.

Since the 2011 disaster, NYK has made numerous arrangements for employees who desire to assist in the region as volunteers. Since last year, newly hired employees have also actively participated, with each volunteering in Otsuchi town in Iwate prefecture. This new venture involving the canola oil is expected to help NYK employees expand their vision and gain experience outside the workplace through interaction with those working at the reconstruction sites for the region’s recovery.

NYK will continue its efforts to support those in need to fulfill the group’s commitment to remaining a socially responsible corporation.

* A nonprofit organization aimed at creating a regional model of a future recycling-oriented society (self-supporting in energy and food, and engaging in resources recycling) based in Kamaishi city in Iwate prefecture, an area affected by the Great East Japan Earthquake. Soon after the earthquake, United Green implemented a recovery project by planting canola flowers in the region and promoted collaborative activities to encourage the residents and the region. The profit from sales of canola oil helps to create jobs and rebuild the region. In addition, the organization collects used cooking oil from revived stores and other places to recycle as a biodiesel fuel, which is used as eco-fuel to cover the electric power for regional events. The NPO aims to build a society resistant to disasters as well as to produce local energy for local consumption.

 

NYK’s Ship Information Management System Recognized with Special Award

 

The Ship Information Management System (SIMS) jointly developed by NYK and the Monohakobi Technology Institute (MTI; head office: Tokyo; president: Makoto Igarashi) has been recognized with a special award from the Japan Institute of Navigation. An awards ceremony was held on July 27, 2015, and attended by Koichi Akamine, NYK senior managing corporate officer; Makoto Igarashi, president of MTI; and Hideyuki Ando, a senior general manager at MTI.

 

The Japan Institute of Navigation is a public incorporated association for the purpose of contributing to the academic advance of navigation. This special award is bestowed for achievements in practical fields related to navigation, and this year marks the 13th time the annual award has been presented.

 

Against the backdrop of fluctuating fuel oil prices and stricter enforcement of greenhouse gas emission regulations by the International Maritime Organization (IMO), the NYK Group has been researching energy-saving operations. In 2008, NYK and MTI started to develop SIMS with the aim of precisely understanding the fuel consumption and propulsion performance conditions of oceangoing vessels. The development of SIMS has been undertaken as a joint study program between the Ministry of Land, Infrastructure, Transport and Tourism and Nippon Kaiji Kyokai (ClassNK) under the ministry's “Project of Assisting Next Generation Technical Development related to Marine Environment."

 

By employing SIMS on vessels, detailed data can be shared timely between onboard crew and land-based operation staff. Such data includes precise hourly updates on conditions of operation and fuel consumption. Thus, more efficient vessel operation and allocation can be realized based on optimal evaluation of data, including performance status such as vessel speed and fuel consumption, as well as weather conditions.

 

The NYK Group has recently installed SIMS on more than 130 vessels, including containerships, bulkers, car carriers, tankers, and LNG carriers. In addition, a study has been undertaken to leverage big data obtained from this system to wider applications. The NYK Group will make further efforts to improve the technological aspects of the system, upgrade data analysis skills, and employ SIMS as operational infrastructure that can meet individual needs of various types of vessels. As a result, NYK’s data applications will be expanded toward gaining advantages in such areas as preventive maintenance and reducing repair costs and time-loss due to engine troubles, while at the same time achieving safer and more secure transportation.

 

In accordance with its “More Than Shipping 2018” medium-term management plan, the NYK Group will promote further utilization of big data in operations and strive to differentiate itself from other companies by raising its competitiveness.

NYK Selected for FTSE4Good Index for the 13th Straight Year

NYK has been selected by the FTSE Group,* a global index provider, as a constituent in the FTSE4Good Index, marking the 13th straight year that the company has been included in this major yardstick for socially responsible investment (SRI).**

 

The FTSE4Good Index is a leading indicator used by investors who place importance on corporate social responsibility and sustainability. Approximately 800 global companies from 25 countries around the world are listed in the FTSE4Good Global Index as of July 2015, and 176 of those companies are Japanese. NYK’s environmental activities were seen as particularly noteworthy and led to this13th consecutive recognition.

 

NYK also has been selected for a number of SRI indexes, including the Dow Jones Sustainability Asia / Pacific Index (USA) and Morningstar (Japan).

 

NYK, as a good corporate citizen, will continue to take an active role in social issues, including conservation of the environment, to contribute to the achievement of a better global society.

 

* Wholly owned subsidiary of the London Stock Exchange. The FTSE4Good Index Series is designed to measure the performance of companies demonstrating strong Environmental, Social,and Governance (ESG) practices. Companies included in the index have met stringent ESG criteria and are positioned to capitalize on the benefits of responsible business practices.

** Investments in companies engaged in ethical activities and confirmed through financial analyses to meet established investment standards.