NYK acquires multiple segments of ENEOS Ocean’s shipping business
Earlier this month, NYK and ENEOS Ocean Corporation, a consolidated subsidiary of ENEOS Holdings, Inc. that handles the shipping business of the ENEOS Group, agreed to NYK’s acquisition of 80% of the shares of a new company to be established by ENEOS Ocean Corporation. The new company will take over ENEOS Ocean’s shipping business through an absorption-type company split that will include the company’s LPG carriers, chemical tankers, product tankers and dry bulk carriers. This demerger will not include ENEOS Ocean’s crude oil tanker business.
The new company will operate 49 vessels (number of vessels owned as of April 1, 2024), including 18 LPG carriers, 19 chemical and product tankers, and 12 dry bulk carriers. It will include 16 companies, including a ship management company in Singapore.
The transaction is expected to be completed on April 1, 2025, subject to obtaining clearance under applicable competition laws and other conditions.
In the energy transportation business, the NYK Group is strengthening its LNG/LPG carrier business as a growth business and is aiming to fulfil its responsibility for stable energy transportation as an infrastructure company. This business acquisition aligns with the Group’s growth strategy.
Through this acquisition, the NYK Group aims to pursue economies of scale in cost competitiveness, create synergies and pursue further growth with the new company’s high-quality fleet and its executives and employees who have extensive knowledge and experience, said a release.
Source: Exim News Service: Tokyo, July 18