On July 8, NYK (Nippon Yusen Kabushiki Kaisha) and ENEOS Ocean Corporation, a subsidiary of ENEOS Holdings, Inc., announced a landmark agreement for NYK to acquire 80% of the shares in a newly established company by ENEOS Ocean Corporation. This acquisition, facilitated through an absorption-type company split, will encompass ENEOS Ocean’s shipping operations, excluding its crude oil tanker business.
The new entity will manage a fleet of 49 vessels, comprising 18 LPG carriers, 19 chemical and product tankers, and 12 dry bulk carriers. Additionally, the company structure will include 16 entities, including a ship-management company based in Singapore. The transaction, subject to regulatory approvals and other customary conditions, is expected to finalize by April 1, 2025.
Aligned with NYK’s strategic focus on environmental, social, and governance (ESG) principles, as outlined in their medium-term management plan “Sail Green, Drive Transformations 2026,” this acquisition strengthens NYK’s position in the energy transportation sector. NYK aims to leverage economies of scale, enhance cost competitiveness, and foster synergies with the new company’s seasoned workforce and state-of-the-art fleet.
Company Overview: ENEOS Ocean Corporation
- Name: ENEOS Ocean Corporation
- Headquarters: Yokohama City, Kanagawa Prefecture, Japan
- President and Representative Director: Takashi Hirose
- Business: Ocean transportation of crude oil, LPG, chemical products, iron ore, coal, timber, etc.
- Capital: 4,000 million yen
- Shareholders: ENEOS Corporation (81.08%), Others (18.92%)
- URL: ENEOS Ocean Corporation
About NYK Line
Founded in 1885, NYK Line, or Nippon Yusen Kabushiki Kaisha, has evolved into a global maritime leader with a robust fleet encompassing container ships, bulk carriers, and tankers. Operating across more than 800 locations worldwide, NYK is renowned for its innovation, sustainability initiatives, and commitment to safe maritime practices. This acquisition underscores NYK’s strategic growth trajectory and reaffirms its pivotal role in shaping the future of global shipping.
Source NYK Group