- Nippon Yusen Kaisha (NYK) has sealed a deal to take over the majority of Eneos Ocean Corporation’s fleet.
- NYK is buying an 80% stake in a new company that will control nearly 50 ships, excluding Eneos Ocean’s crude tanker business.
NYK Group has reached an agreement with ENEOS Ocean Corporation to acquire 80% of the shares of a new company that will take over ENEOS Ocean’s shipping business, reports Safety4sea.
NYK acquires ENEOS Ocean’s shipping business
This business primarily involves LPG ships, chemical tankers, product tankers (oil product tankers), and dry bulk ships, excluding its crude oil tanker business, through an absorption-type company split. The new company will become a subsidiary of NYK Group.
The new company is expected to operate a fleet of 49 vessels, including 18 LPG carriers, 19 chemical/product tankers, and 12 cargo ships, along with subsidiaries including operational and ship management companies based in Singapore.
The Transaction is expected to be completed on April 1, 2025, subject to approval and authorization from the Fair Trade Commission and other domestic and overseas authorities.
“Through this transaction, we will pursue economies of scale in the quality control and cost competitiveness of the NYK Group, and create synergies with the high-quality fleet of the new company and the executives and employees with extensive knowledge and experience, in order to pursue further growth,” said NYK in a statement.
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Source: Safety4sea
