Nippon Yusen Kabushiki Kaisha (NYK) and ENEOS Ocean Corporation have agreed that NYK would acquire 80 per cent of the shares in a new company to be founded by ENEOS Ocean Corporation.
The new firm will acquire ENEOS Ocean’s shipping operations via an absorption-type company split, which will comprise the company’s LPG carriers, chemical tankers, product tankers, and dry bulk ships. This demerger will exclude ENEOS Ocean’s crude oil tanker industry.
The new firm will run 49 vessels, including 18 LPG carriers, 19 chemical and product tankers, and 12 dry bulk carriers. It will feature 16 entities, one of which being a Singapore-based ship management company.
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The deal is planned to close on 1 April 2025, subject to clearance under applicable competition laws and other conditions.
The NYK Group announced its pursuit of a growth strategy centering on ESG as its core in the company’s medium-term management plan, “Sail Green, Drive Transformations 2026 — A Passion for Planetary Wellbeing,” released in 2023.
The NYK Group is strengthening its LNG/LPG carrier business as a growth business, with the goal of fulfilling its role as an infrastructure firm for stable energy transportation.
