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 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.
NYK has issued the English version of the company’s 2015 NYK Report, which includes information that would traditionally be found in an annual report and a CSR report.
The report contains information about the NYK Group’s finances and environmental, social, and governance (ESG) efforts to efficiently provide stakeholders with a reliable overview of the company’s activities.
In addition, new NYK president Tadaaki Naito discusses the Group’s aim to boldly and soundly diversify, as set out in the company’s medium-term management plan “More Than Shipping 2018 — Stage 2 Leveraged by Creative Solutions.” Further, the company’s 2015 fiscal management policy and efforts to strengthen governance are reviewed, together with efforts to meet customers’ expectations and social responsibilities through creative solutions based on strong foundations.
The report also focuses on the process to enhance corporate value, and makes use of an actual segment of the NYK Group’s business — i.e., auto logistics — to demonstrate how the Group has established an overwhelming competitive advantage in auto logistics services that include not only sea transport but also inland logistics and car terminals.
The Group’s CSR activities, which have become an integral part of the company, are also highlighted, in addition to the value and strengths accumulated over 130 years of operations, particularly human resources, environmental awareness, and safety.
The full report can be accessed through the following link- http://www.nyk.com/english/ir/library/nyk/