Japanese shipping giant Nippon Yusen Kaisha (NYK Line) is reporting that three shipping and ship-management companies within the NYK Group will merge as part of a strategic business integration.
The company announced on Monday that Asahi Shipping Co., Hachiuma Steamship Co. and Mitsubishi Ore Transport Co. will combine forces and merge with the aim to create a new company under the corporate name NYK Bulkship Partners Co.
NYK Line said the new name is tentative and the president of the company will be determined. The amalgamation date is scheduled for January 2026 and the business bases will be in Tokyo, Kobe.
The Tokyo-head based company will have control over a fleet of 22 owned vessels, whilst the number of managed vessels will be 91, including the vessels owned by the company and the vessels managed by subsidiaries.
As reported, the three companies plan to resolve the amalgamation at their respective general shareholder meetings.
The company gave some details about the profile of the three NYK Group Shipping and ship-management companies.
Asahi Shipping Co, located in Minato-ku, Tokyo, was established on August 24, 1946, with a paid-in capital JPY 495m.
Hachiuma Steamship Co., located in Kobe City, Hyogo Prefecture, was established on January 7, 1925, with a paid-in capital JPY 500m.
On the other hand, Mitsubishi Ore Transport Co., located in Chiyoda-ku, Tokyo, was established on January 26, 1959, with a paid-in capital JPY 1,500m.
The three businesses are involved in shipping, ship leasing, ship management, etc.
According to NYK, through this merger, the company’s aim is to further enhance its competitiveness in ship management, as well as in ship ownership and operations, by consolidating similar business functions and strengthening common ship-management capabilities.
