Japanese shipping company Nippon Yusen Kaisha (NYK Line) and ENEOS Ocean Corporation have unveiled the name of the new company based in Yokohama City, Kanagawa Prefecture in Japan that will take over ENEOS Ocean’s non-crude-oil shipping business.
On Monday, NYK Line announced that NYK Energy Ocean will become the new NYK subsidiary.
The new company was established on August 8, 2024, by ENEOS Ocean to take over its shipping business, which includes LPG carriers, chemical tankers, product tankers (petroleum product carriers), and cargo ships (dry bulk carriers), through an absorption-type company split.
NYK will acquire 80% of the shares of the new company and make it a subsidiary.
By the end of last year, the transaction approval procedures by the Japan Fair Trade Commission and other relevant authorities in Japan and overseas were completed.
The transaction is expected to be completed on April 1, and NEO will officially commence operations.
Koichi Chikaraishi, who has a wealth of experience in shipping, NYK said, including as representative director and senior managing corporate officer of NYK, is scheduled to be appointed as president.
Furthermore, NYK and ENEOS Ocean have also created a new logo for NEO.
