Navalyze · Bulk carrier · Ship

FEDERAL NAKAGAWA

IMO: 9278791
Type: Bulk carrier
Average cargo carried: 19,550 t
Flag (estimated): Marshall Islands
Port of registry: Majuro
Technical efficiency: EEXI 5.13 g CO₂/t·nm
Ice class: IC

ISM company (DoC holder) in 2025: Baffin Investments Limited

Report year

2025 at a glance

From the 2025 THETIS-MRV report. Carries about 19,550 t of cargo on average.

Fuel kg/nm

58.8

Bulk carrier median 82.6 kg/nm (−29%)

CO₂ per transport work (cargo)

9.51

g CO₂/t·nm · Bulk carrier median 7.90 (+20%)

Average speed

9.3 kn

Bulk carrier median 10.7 kn (−13%)

Fuel per day at sea

13.1 t/day

Fuel consumed

2,271 t

CO₂ emitted

7,175 t

7,287 t CO₂eq incl. CH₄ and N₂O

Distance sailed

38,593 nm

CO₂ ÷ CO₂ per mile

Time at sea

4,159 h

173 days, 47% of the year

Within the bulk carrier fleet, 2025

Set against all 3,611 bulk carrier ships with a full-year 2025 report. Bigger ships burn more per mile but less per tonne of cargo, so read fuel per mile with the ship's size in mind.

Fuel kg/nmThis ship 58.8 kg/nm · median 82.6 (−29%)

61.0Ranks 282 of 3,611, lowest first114

Average speedThis ship 9.3 kn · median 10.7 (−13%)

8.8Faster than 14% of bulk carrier ships11.8

CO₂ per transport work (cargo)This ship 9.51 g CO₂/t·nm · median 7.90 (+20%)

4.80Ranks 2,445 of 3,611, lowest first15.9

Middle 80% of shipsMiddle 50%Bulk carrier medianThis ship

Where the emissions happen, 2025

THETIS splits each ship's emissions by voyage type. The split sets how much falls under the EU ETS: all of it within the EU and at berth, half of it on voyages into or out of the EU.

Between EU ports10%
From the EU43%
Into the EU43%
At berth in the EU5%

57% of this ship's CO₂ falls under the EU ETS (4,114 t).

Fuel burned laden

1,787 t

79% of all fuel; 21% in ballast or unladen

CO₂ at berth

366 t

5.1% of the ship's CO₂, alongside in EU ports

Methane (CH₄)

0.1 t

Mainly from LNG; small for oil, biofuel and methanol

CO₂eq uplift

+112 t

+1.6% CO₂eq on top of CO₂ alone, from CH₄ and N₂O; counted in full from 2026

Over the years

Full-year reports only. The Bulk carrier median is the middle ship of all bulk carrier ships reporting that year; it moves with the fleet, so a ship can gain on it without changing itself.

Fuel kg/nm

FEDERAL NAKAGAWA
Bulk carrier median

50.060.070.080.090.0100.0

’182018’192019’202020’212021’222022’232023’242024’252025

Average speed, kn

FEDERAL NAKAGAWA
Bulk carrier median

9.010.011.012.0

’182018’192019’202020’212021’222022’232023’242024’252025

CO₂ per transport work (cargo), g CO₂/t·nm

FEDERAL NAKAGAWA
Bulk carrier median

6.08.010.012.014.0

’182018’192019’202020’212021’222022’232023’242024’252025

Year on year

Year	Average speed	Fuel kg/nm	Fuel per day at sea	Distance	CO₂ per transport work	Reading
2024→2025	−1.3 kn	−24%	−34%	+116%	−31%	1.3 kn slower, fuel per mile down 24%; in line with the speed change.
2023→2024	+0.1 kn	+14%	+15%	−18%	+66%	Same speed, fuel per mile up 14%; worse than speed alone explains (fouling, weather, loading or trade).
2022→2023	−0.3 kn	−5%	−8%	−24%	−38%	0.3 kn slower, fuel per mile down 5%; in line with the speed change.
2021→2022	−0.8 kn	−10%	−16%	+130%	+11%	0.8 kn slower, fuel per mile down 10%; in line with the speed change.
2020→2021	+1.1 kn	+11%	+23%	−60%	+3%	1.1 kn faster, fuel per mile up 11%; better than speed alone explains (hull, engine or trade).
2019→2020	+0.6 kn	−4%	+2%	+26%	+15%	0.6 kn faster, fuel per mile down 4%; better than speed alone explains (hull, engine or trade).
2018→2019	+0.4 kn	−5%	+0%	−33%	−12%	0.4 kn faster, fuel per mile down 5%; better than speed alone explains (hull, engine or trade).

Fuel per mile rises roughly with the square of speed for a given ship, so a change in speed explains much of a change in fuel per mile.

Every reporting year

One row per THETIS-MRV report. A ship that changed operator during a year has a part-year report for each.

Operation

Year	ISM company	Fuel t	CO₂ t	Distance nm	Hours at seah	Average speedknots at sea	Fuel kg/nmthis ship	CO₂ per transport work (cargo)g/t·nm, this ship	Laden fuel
2025	Baffin Investments Limited	2,271	7,175	38,593	4,159	9.3	58.8	9.51	79%
2024	Baffin Investments Limited	1,390	4,384	17,907	1,685	10.6	77.6	13.7	60%
2023	not published	1,481	4,653	21,707	2,072	10.5	68.2	8.25	79%
2022	not published	2,046	6,497	28,523	2,632	10.8	71.7	13.3	77%
2021	not published	990	3,145	12,408	1,068	11.6	79.8	12.0	79%
2020	not published	2,227	7,056	31,072	2,955	10.5	71.7	11.6	79%
2019	not published	1,843	5,816	24,643	2,489	9.9	74.8	10.1	87%
2018	not published	2,888	9,159	36,859	3,892	9.5	78.4	11.4	31%

Benchmark and verification

Year	ISM company	CO₂ per TW, g CO₂/t·nm	Bulk carrier median	vs Bulk carrier	Rank	Verifier	Methods
2025	Baffin Investments Limited	9.51	7.90	+20%	2,445 of 3,611	ABS	B+C
2024	Baffin Investments Limited	13.7	8.09	+70%	2,672 of 3,089	ABS	B+C
2023	not published	8.25	8.27	−0%	1,760 of 3,548	ABS	C
2022	not published	13.3	8.71	+53%	3,218 of 3,968	ABS	C
2021	not published	12.0	8.57	+40%	2,769 of 3,466	ABS	C
2020	not published	11.6	8.24	+41%	2,514 of 3,150	ABS	C
2019	not published	10.1	8.38	+20%	2,271 of 3,360	ABS	C
2018	not published	11.4	8.50	+34%	2,579 of 3,384	ABS	C

Fuel per mile and CO₂ per tonne-mile are the ship's own reported KPIs. Bulk carrier ships are benchmarked on CO₂ per transport work (cargo) (TW), in g CO₂/t·nm. CO₂eq adds methane and nitrous oxide and is in the public files from 2024. Rank counts from the lowest figure among that year's bulk carrier ships. Methods: A delivery notes, B tank monitoring, C flow meters, D direct measurement. FuelEU GHG intensity is not shown: it needs fuel types, which the public file does not carry. Operators are named only from 2024, the first year the public files carry them; earlier years belong to the ship, not to any company.