NYK takes entire gas, product tanker and bulker fleet from Eneos Ocean

Nippon Yusen Kaisha (NYK), a prominent Japanese shipping company, has announced a significant acquisition deal, securing an 80% stake in a newly formed company that will control a large portion of Eneos Ocean Corporation’s fleet. This transaction marks a strategic expansion for NYK, positioning them to dominate various segments of maritime transportation.

Under this agreement, the new NYK subsidiary will manage a diverse fleet, excluding Eneos Ocean’s crude tanker operations. Specifically, the subsidiary will oversee 18 liquefied petroleum gas (LPG) carriers, 19 chemical and product tankers, and 12 bulk carriers. Additionally, 16 companies, including an operating company and a ship management company based in Singapore, will fall under this new entity’s control.

The fleet composition highlighted by NYK includes ships owned by overseas subsidiaries, which differs slightly from the figures presented on the Eneos Ocean website. According to Eneos Ocean, their fleet consists of 15 LPG carriers, the same number of chemical/product tankers, and 11 bulk carriers. This discrepancy underscores the complex nature of international shipping operations and ownership structures.

Currently, Eneos Group, previously known as JX Ocean, holds approximately 81% ownership of the business. Other stakeholders include Sompo Japan Insurance and Japan Marine United Corporation. This new deal will significantly alter the ownership landscape, leaving Eneos Ocean with nine Very Large Crude Carriers (VLCCs) and three Aframax tankers post-transaction. The deal is anticipated to close by April next year.

This acquisition not only enhances NYK’s operational capacity but also strengthens its presence in the global maritime industry. Last year, Eneos Ocean contributed two ships to the Stolt NYK Asia Pacific Services chemical tankers pool, reflecting the collaborative nature of the shipping sector.

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In summary, this strategic move by NYK signifies its commitment to expanding its fleet and consolidating its market position, setting the stage for enhanced operational capabilities and growth in the coming years.