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Transworld Group and Fleet Management Announce New Ship Management joint venture
Cont’d. from Pg. 3
Transworld Group Chairman Ramesh S. Ramakrishnan said the joint venture would enable the company to focus on the ship ownership aspect of their business, while utilizing FLEET’s technical ship management expertise on a broader scale.
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“FLEET has managed a number of our vessels over the past year, and this joint venture is a natural progression in our working relationship as we continue to add to our ship ownership portfolio, particularly in tankers,”Mr.Ramakrishnansaid.
“We are anticipating significant support from FLEET’s technical, operational and quality, health, safety and environment teams to ensure efficient management, including ongoing adherence to regulatory requirements and the utilization of a broad rangeofdigitalcapabilities,”headded.
Harry Banga, Chairman and CEO of FLEET’s parent company, The Caravel Group, said he was confident in the success of the joint venture partnership due to aligned corporate values and backgrounds as family-runbusinesses.
“We share a similar philosophy in striving to manage our businesses in ways that create positive change –meaningfully contributing to the opportunities ahead for usall,”Dr.Bangasaid.
“Our FLEET team is committed to supporting Transworld Group as they ramp up their ship ownership andcontinuetoexpandinthisspace.”
The joint venture structure will involve Transworld Group and FLEET employees working closely together inIndia,HongKongSAR,DubaiandSingapore.

NYK to build its Sixth LPG Dual-Fuel
Very Large LPG / Ammonia Carrier

TOKYO:NYKisdelightedtoannouncetheorderofits sixth liquefied petroleum gas (LPG) dual-fuel very large LPG / liquefied ammonia gas carrier (VLGC) from Kawasaki Heavy Industries Ltd. (KHI). The ship will be built at the KHI Sakaide Works shipyard and is set for deliveryin2026.
This vessel is the eighth in NYK’s fleet of LPG-fueled LPGcarriersandthesixthinanewtypeofvesselcapable of carrying ammonia and thus flexibly responding to varioustradepatterns.
Furthermore,inadditiontotheLPGdual-fuelengine, the ship will have a shaft generator that can generate electricity during the voyage by using the rotation of the shaft that connects the main engine to the propeller. Sincethedieselgeneratorcanbestoppedduringregular seagoing transit, realizing full navigation with LPG fuel will be possible except for the use of a small amount of pilotfuelasanignitionsource.
When LPG is used as fuel, exhaust gas from the ordered VLGC will contain at least 95% less sulfur oxide (SOx)and20%lessCO2thanNYK’sconventionalVLGCs usingheavy-oilfiredengines.
This new VLGC will comply not only with the SOx
Global Cap regulations that were tightened from January 2020 but also with the IMO’s Energy Efficiency Design Index (EEDI) Phase 3 regulations, which implemented stricter CO2 emission standards fromApril2022.
Moreover,thevesselisexpectedtobegivennotations by Nippon Kaiji Kyokai (ClassNK) as a VLGC that has a preparatory design in accordance with the guidelines issued by ClassNK so that this vessel may use ammonia fuelinthefuture.