Nippon Yusen Kabushiki Kaisha (NYK) Line has agreed to take full control of its joint company Mitsubishi Ore Transport (MOT).
This deal will enable NYK, which currently has a 40.28% interest in the company, to make MOT its wholly owned subsidiary.
MOT is a vessel management and shipowning business with 17 ships, which include bulkers, pure car and truck carriers, and wood-chip carriers.
The company claims to have extensive knowledge of the shipowning business.
The acquired business is also expected to help NYK bolster its group-wide ship management solutions, including the launch of next-generation fuel vessels to support decarbonisation.
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Furthermore, NYK will focus on pursuing “synergy in its dry bulk business and promote flexible, value-added business development”.
Earlier this month, NYK took delivery of a new coal carrier, called Kagura, from Oshima Shipbuilding.
The vessel has an overall length of 235m, a breadth of 43m and a summer draft of 13.853m.
In January, NYK placed an order with Kawasaki Heavy Industries (KHI) for a new liquefied petroleum gas (LPG) dual-fuel very large LPG/liquefied ammonia gas carrier (VLGC).
The ship will be constructed at the KHI Sakaide Works shipyard.