Latest news with #NYKLine
Kyodo News
3 days ago
- Business
- Kyodo News
FEATURE: Cruise boom buoys Japan's post-pandemic tourism
By Keiichiro Otsuka, KYODO NEWS - 19 hours ago - 10:42 | Feature, All, Japan, Travel/Tourism When the Diamond Princess was quarantined off Yokohama in the early stages of the COVID-19 pandemic in 2020, Japan's cruise industry ground to a halt, its future clouded by fear and uncertainty. Today, that industry is roaring back. Demand for maritime journeys with swimming pools among a host of luxury amenities and entertainment has surged due to pent-up wanderlust and a wave of new investments. Japanese ports are seeing record domestic passenger numbers, signaling not just a revival in leisure travel, but a broader boost to local economies that rely on tourism. Japan, an archipelago of over 14,000 islands and one of the largest economies in the world, has a relatively small cruise industry and modest vessels compared to the U.S., home of giants like Carnival Cruise Line. According to the Ministry of Land, Infrastructure, Transport and Tourism, however, the Japanese cruise market grew significantly in 2024, increasing by 14.2 percent year-on-year to 224,100 passengers. The number of international visitors entering Japan by cruise ship quadrupled to 1.4 million, nearly 60 percent of the record set in 2017. Kentaro Matsuura, president of cruise travel agency Yutaka Club (Tokyo), estimates domestic passengers will exceed 250,000 in 2025 and may approach the 2019 record high of 356,600 next year. With their core cargo business hit hard by U.S. President Donald Trump's import tariffs, Japanese shipping giants are developing cruise ships into thriving businesses that can produce stable income streams. Due to tariffs, shipping companies NYK Line and Mitsui O.S.K Lines Ltd. (MOL) forecast 47.7 percent and 60.0 percent year-on-year declines in net profits, respectively, in their consolidated financial accounts for fiscal 2025. NYK Cruises will launch the Asuka III on July 20, expanding its fleet to two ships, while Mitsui Ocean Cruises will add a third ship in the latter half of next year. On the evening of May 5, the Mitsui Ocean Fuji, which MOL began operating in December 2024, passed under Yokohama Bay Bridge. Nearby, in the Port of Yokohama, Mitsui's Nippon Maru was awaiting departure. Also docked was the Cunard luxury liner Queen Elizabeth. "I look forward to seeing the Asuka III," said a man viewing the ships. At 52,265 gross tons and 230 meters long, the Yokohama-based Asuka III will be the largest passenger ship in the Japanese fleet. It will be decorated with frescoes by Japanese painter Hiroshi Senju, giving it the feel of a floating art gallery, and all 381 cabins will have private seaside balconies. Her maiden voyage from July 20 to 26 will be from Yokohama to Hakodate and Otaru in Hokkaido. The costs per passenger will be between 984,000 yen ($6,800) and around 4.80 million yen. In February, NYK Line and its subsidiary Yusen Cruises reached a basic agreement on a business alliance in which Oriental Land, which operates Tokyo Disney Resort, will take over the operation and management of cruise ships scheduled to enter service in fiscal 2028. The main departure and arrival port will be Tokyo Bay, and shows featuring Mickey Mouse and other Disney characters will be held on board. A second vessel is also being considered for service. To keep up with its rival, Mitsui O.S.K. Lines in March announced that it had also bought an additional sister ship (32,477 gross tons) from the U.S.-based Seabourn Cruise Line, the seller of the Mitsui Ocean Fuji hull, to begin operations in the latter half of next year. "Mitsui Ocean Fuji has received a very positive response from customers due to the fact that they can enjoy the expansive ocean views from their cabin verandas," said MOL President Tsunemichi Mukai, adding that the addition of a sister ship will only strengthen the company's ability to attract customers. The company plans to build two passenger ships at a European shipyard and launch them in the near future. Related coverage: Former Diamond Princess passengers mark 5 yrs since COVID outbreak Disney Cruise Line makes Singapore its 1st home port in Asia
Kyodo News
3 days ago
- Business
- Kyodo News
FEATURE: Cruise boom buoys Japan's post-pandemic tourism
By Keiichiro Otsuka, KYODO NEWS - 2 minutes ago - 10:42 | Feature, All, Japan, Travel/Tourism When the Diamond Princess was quarantined off Yokohama in the early stages of the COVID-19 pandemic in 2020, Japan's cruise industry ground to a halt, its future clouded by fear and uncertainty. Today, that industry is roaring back. Demand for maritime journeys with swimming pools among a host of luxury amenities and entertainment has surged due to pent-up wanderlust and a wave of new investments. Japanese ports are seeing record domestic passenger numbers, signaling not just a revival in leisure travel, but a broader boost to local economies that rely on tourism. Japan, an archipelago of over 14,000 islands and one of the largest economies in the world, has a relatively small cruise industry and modest vessels compared to the U.S., home of giants like Carnival Cruise Line. According to the Ministry of Land, Infrastructure, Transport and Tourism, however, the Japanese cruise market grew significantly in 2024, increasing by 14.2 percent year-on-year to 224,100 passengers. The number of international visitors entering Japan by cruise ship quadrupled to 1.4 million, nearly 60 percent of the record set in 2017. Kentaro Matsuura, president of cruise travel agency Yutaka Club (Tokyo), estimates domestic passengers will exceed 250,000 in 2025 and may approach the 2019 record high of 356,600 next year. With their core cargo business hit hard by U.S. President Donald Trump's import tariffs, Japanese shipping giants are developing cruise ships into thriving businesses that can produce stable income streams. Due to tariffs, shipping companies NYK Line and Mitsui O.S.K Lines Ltd. (MOL) forecast 47.7 percent and 60.0 percent year-on-year declines in net profits, respectively, in their consolidated financial accounts for fiscal 2025. NYK Cruises will launch the Asuka III on July 20, expanding its fleet to two ships, while Mitsui Ocean Cruises will add a third ship in the latter half of next year. On the evening of May 5, the Mitsui Ocean Fuji, which MOL began operating in December 2024, passed under Yokohama Bay Bridge. Nearby, in the Port of Yokohama, Mitsui's Nippon Maru was awaiting departure. Also docked was the Cunard luxury liner Queen Elizabeth. "I look forward to seeing the Asuka III," said a man viewing the ships. At 52,265 gross tons and 230 meters long, the Yokohama-based Asuka III will be the largest passenger ship in the Japanese fleet. It will be decorated with frescoes by Japanese painter Hiroshi Senju, giving it the feel of a floating art gallery, and all 381 cabins will have private seaside balconies. Her maiden voyage from July 20 to 26 will be from Yokohama to Hakodate and Otaru in Hokkaido. The costs per passenger will be between 984,000 yen ($6,800) and around 4.80 million yen. In February, NYK Line and its subsidiary Yusen Cruises reached a basic agreement on a business alliance in which Oriental Land, which operates Tokyo Disney Resort, will take over the operation and management of cruise ships scheduled to enter service in fiscal 2028. The main departure and arrival port will be Tokyo Bay, and shows featuring Mickey Mouse and other Disney characters will be held on board. A second vessel is also being considered for service. To keep up with its rival, Mitsui O.S.K. Lines in March announced that it had also bought an additional sister ship (32,477 gross tons) from the U.S.-based Seabourn Cruise Line, the seller of the Mitsui Ocean Fuji hull, to begin operations in the latter half of next year. "Mitsui Ocean Fuji has received a very positive response from customers due to the fact that they can enjoy the expansive ocean views from their cabin verandas," said MOL President Tsunemichi Mukai, adding that the addition of a sister ship will only strengthen the company's ability to attract customers. The company plans to build two passenger ships at a European shipyard and launch them in the near future. Related coverage: Former Diamond Princess passengers mark 5 yrs since COVID outbreak Disney Cruise Line makes Singapore its 1st home port in Asia
Japan Today
4 days ago
- Business
- Japan Today
Cruise boom buoys Japan's post-pandemic tourism
By Keiichiro Otsuka When the Diamond Princess was quarantined off Yokohama in the early stages of the COVID-19 pandemic in 2020, Japan's cruise industry ground to a halt, its future clouded by fear and uncertainty. Today, that industry is roaring back. Demand for maritime journeys with swimming pools among a host of luxury amenities and entertainment has surged due to pent-up wanderlust and a wave of new investments. Japanese ports are seeing record domestic passenger numbers, signaling not just a revival in leisure travel, but a broader boost to local economies that rely on tourism. Japan, an archipelago of over 14,000 islands and one of the largest economies in the world, has a relatively small cruise industry and modest vessels compared to the U.S., home of giants like Carnival Cruise Line. According to the Ministry of Land, Infrastructure, Transport and Tourism, however, the Japanese cruise market grew significantly in 2024, increasing by 14.2 percent year-on-year to 224,100 passengers. The number of international visitors entering Japan by cruise ship quadrupled to 1.4 million, nearly 60 percent of the record set in 2017. Kentaro Matsuura, president of cruise travel agency Yutaka Club (Tokyo), estimates domestic passengers will exceed 250,000 in 2025 and may approach the 2019 record high of 356,600 next year. With their core cargo business hit hard by U.S. President Donald Trump's import tariffs, Japanese shipping giants are developing cruise ships into thriving businesses that can produce stable income streams. Due to tariffs, shipping companies NYK Line and Mitsui O.S.K Lines Ltd (MOL) forecast 47.7 percent and 60.0 percent year-on-year declines in net profits, respectively, in their consolidated financial accounts for fiscal 2025. NYK Cruises will launch the Asuka III on July 20, expanding its fleet to two ships, while Mitsui Ocean Cruises will add a third ship in the latter half of next year. On the evening of May 5, the Mitsui Ocean Fuji, which MOL began operating in December 2024, passed under Yokohama Bay Bridge. Nearby, in the Port of Yokohama, Mitsui's Nippon Maru was awaiting departure. Also docked was the Cunard luxury liner Queen Elizabeth. "I look forward to seeing the Asuka III," said a man viewing the ships. At 52,265 gross tons and 230 meters long, the Yokohama-based Asuka III will be the largest passenger ship in the Japanese fleet. It will be decorated with frescoes by Japanese painter Hiroshi Senju, giving it the feel of a floating art gallery, and all 381 cabins will have private seaside balconies. Her maiden voyage from July 20 to 26 will be from Yokohama to Hakodate and Otaru in Hokkaido. The costs per passenger will be between 984,000 yen and around 4.80 million yen. In February, NYK Line and its subsidiary Yusen Cruises reached a basic agreement on a business alliance in which Oriental Land, which operates Tokyo Disney Resort, will take over the operation and management of cruise ships scheduled to enter service in fiscal 2028. The main departure and arrival port will be Tokyo Bay, and shows featuring Mickey Mouse and other Disney characters will be held on board. A second vessel is also being considered for service. To keep up with its rival, Mitsui O.S.K. Lines in March announced that it had also bought an additional sister ship (32,477 gross tons) from the U.S.-based Seabourn Cruise Line, the seller of the Mitsui Ocean Fuji hull, to begin operations in the latter half of next year. "Mitsui Ocean Fuji has received a very positive response from customers due to the fact that they can enjoy the expansive ocean views from their cabin verandas," said MOL President Tsunemichi Mukai, adding that the addition of a sister ship will only strengthen the company's ability to attract customers. The company plans to build two passenger ships at a European shipyard and launch them in the near future. © KYODO
Nikkei Asia
16-05-2025
- Business
- Nikkei Asia
Trump admin 'opportunity' for Japan's shipbuilders: NYK Line chair
TOKYO -- U.S. President Donald Trump's policies may create a headwind to the struggling Japanese shipbuilding industry, but it could also provide "an opportunity," said Hitoshi Nagasawa, chairman of shipping company Nippon Yusen Kaisha Line (NYK Line), in an interview with Nikkei.
Yahoo
27-02-2025
- Automotive
- Yahoo
Southern California port, NYK Line team on green auto shipping corridor
The U.S. Port of Hueneme and ocean carrier NYK Line (OTC: NPNYY) have signed a memorandum of understanding (MOU) to establish a green automotive shipping corridor between Japan and Southern California. The signing ceremony took place on Feb. 12 at the port, the companies said in an announcement. 'The MOU solidifies the commitment of both parties to explore innovative and sustainable shipping practices, with an emphasis on reducing greenhouse gas (GHG) emissions, advancing energy efficiency, and promoting the use of alternative fuels and zero-emission technologies,' the announcement stated. 'The partnership will also explore joint research and development efforts to push the boundaries of green technology in the maritime and automotive sectors.' Located about 60 miles west of Los Angeles in Oxnard County, Hueneme is one of the top 10 U.S. ports for automobile imports. It handles approximately 400,000 vehicles annually — 20% of those battery electric vehicles. Hueneme counts 19 automakers among its customers, served by seven roll-on/roll-off ocean 2024 Hueneme's exports totaled $957.75 million, up 17.31%, while imports were valued at $16.91 billion, up 10.33%. Headquartered in Tokyo, NYK Line ranks among the world's 10 largest ro/ro vehicle carriers with more than a hundred ro-ro ships in its fleet. NYK is a member with MOL (OTC: MSLOY) and K-Line in the ONE Alliance, the sixth-largest container carrier. NYK has publicly committed to achieving net-zero emissions by 2050. 'This is not something we can achieve on our own. It requires building strong partnerships with many stakeholders,' said Yutaka Ikeda, managing executive officer of NYK Line, who attended the ceremony. 'The signing of the MOU with the Port of Hueneme is quite remarkable for us and a big step toward achieving a greener future in the logistics industry.' 'This MOU is more than just a partnership — it's a commitment to fostering innovation, reducing emissions, and promoting green technologies, all while enhancing the value we deliver to our communities and our stakeholders,' said Kristin Decas, chief executive and port director of the Port of port in 2024 announced a goal of zero-emissions port operations by 2030 as part of its Blueprint to Decarbonization Plan. The plan guides future purchasing of zero-emission equipment that will run on clean fuels to eliminate emissions from nearly all on-port operations. NYK Line plans to reduce greenhouse gas emissions by 45% by 2030 and achieve net-zero emissions by 2050. Find more articles by Stuart Chirls bridge collapse, Port of Baltimore sees second-best year for cargo Freightos: Ocean container rates falling but still above year-ago levels ILA members overwhelmingly approve new contract covering East, Gulf coast portsAnalysis: US port fees the latest headwind for container supply chain The post Southern California port, NYK Line team on green auto shipping corridor appeared first on FreightWaves.
