NYK Line has acquired a 25 per cent stake in PT. Patimban International Car Terminal (PICT), a car terminal operator based at the Indonesian Port of Patimban.
The shares were acquired from Toyota Tsusho Corporation, and registration was completed on 18 August.
The Port of Patimban is 120 kilometres east of the Jakarta city centre and has been under construction in stages since 2018.
In 2022, the terminal could handle 220,000 vehicles per year, and development is ongoing to raise capacity to 600,000 vehicles per year.
Tanjung Priok, another major port in the Jakarta metropolitan region, has grown chronically crowded as cargo volumes have expanded, according to NYK.
Furthermore, traffic congestion on the roads connecting the port to the Eastern Industrial Park in Jakarta’s eastern section, which is home to several Japanese manufacturers, has caused delays in the import and export of vehicle components and finished automobiles.
The full-scale functioning of Patimban port is intended to solve these issues.
As a result of its ownership stake in PICT, NYK aims to provide optimal logistics services, including automotive and construction equipment manufacturers entering the Indonesian market, while contributing to the development of the Indonesian economy.
Additionally, NYK and TB Global Technologies Ltd. (TBG), a Japanese manufacturer of cargo handling equipment for liquids, inked a preliminary agreement to create a distribution device for ammonia fuel transfer between ships.