Japan's shipping giant NYK merged its three shipping companies
Japanese shipping giant NYK is consolidating its three shipping and ship management companies into a new entity with greater scale and market influence.
According to a recent announcement by Nippon Mail, Asahi Shipping, Hachiuma Steamship Co and Mitsubishi Ore Transport will merge to form a new company, NYK Bulkship Partners.
The merger is scheduled to be formally completed in January, and NYK calls the move part of a "strategic business integration."
Nyk said: "The three companies continue to grow in their respective business areas, relying on their unique strengths. Through this integration, we will further enhance our comprehensive competitiveness in ship management, ship ownership and operation, unify similar business functions, and strengthen common ship management capabilities."
It is reported that the new company will be headquartered in Tokyo, and set up a business office in Kobe. As for who will be the new company president, it has not yet been announced.
Hachiuma Steamship is the oldest, with its predecessor dating back to 1861, the company was founded in 1925 and merged into NYK in 1964, currently headed by Koji Shinozaki.
Founded in 1946, Asahi Shipping became a wholly owned subsidiary of Nippon Post on March 31 this year and is headed by Satoshi Nemoto. Mitsubishi Ore Transport is the youngest of the three, founded in 1959 and currently headed by Koichi Uragami.
Nyk said more details about the new company will be announced separately when it is confirmed.
According to a recent announcement by Nippon Mail, Asahi Shipping, Hachiuma Steamship Co and Mitsubishi Ore Transport will merge to form a new company, NYK Bulkship Partners.
The merger is scheduled to be formally completed in January, and NYK calls the move part of a "strategic business integration."
Nyk said: "The three companies continue to grow in their respective business areas, relying on their unique strengths. Through this integration, we will further enhance our comprehensive competitiveness in ship management, ship ownership and operation, unify similar business functions, and strengthen common ship management capabilities."
It is reported that the new company will be headquartered in Tokyo, and set up a business office in Kobe. As for who will be the new company president, it has not yet been announced.
Hachiuma Steamship is the oldest, with its predecessor dating back to 1861, the company was founded in 1925 and merged into NYK in 1964, currently headed by Koji Shinozaki.
Founded in 1946, Asahi Shipping became a wholly owned subsidiary of Nippon Post on March 31 this year and is headed by Satoshi Nemoto. Mitsubishi Ore Transport is the youngest of the three, founded in 1959 and currently headed by Koichi Uragami.
Nyk said more details about the new company will be announced separately when it is confirmed.
