NYK unveils name of new subsidiary with ENEOS’ fleet

Japanese shipping companies NYK and ENEOS Ocean Corporation have announced the establishment of a new subsidiary, NYK Energy Ocean (NEO), which will soon take over ENEOS Ocean’s non-crude oil shipping business. With the acquisition of 80% shares, NYK is set to expand its operations and fleet, aiming to provide stable transport of raw materials and energy on an international level. The new company is scheduled to begin official operations on April 1, 2025.

The Birth of NYK Energy Ocean (NEO):

NYK Energy Ocean (NEO) is the name of the new company that will be NYK’s subsidiary, focusing on non-crude oil shipping business. This includes LPG carriers, chemical tankers, product tankers, and dry bulk carriers. With a fleet of 49 vessels, consisting of various types of carriers, NEO is poised to make a significant impact in the shipping industry. The acquisition of 80% shares by NYK solidifies its commitment to expanding its operations and presence in the market.

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Appointment of President and Vision for Growth:

Koichi Chikaraishi, the former Representative Director and Senior Managing Corporate Officer of NYK, is set to be appointed as the President of NEO. The company aims to fulfill its responsibilities as an international shipping company by providing stable transport of raw materials and energy. By leveraging synergies with the NYK Group, NEO plans to achieve further growth and success in the industry. With a focus on quality control, cost competitiveness, and utilizing top-notch personnel with extensive experience, NEO is well-positioned for success.

Collaboration and Expansion:

In 2023, NYK and ENEOS Ocean, in collaboration with Norwegian chemical tanker company Stolt Tankers, launched a new pool within Stolt NYK Asia Pacific Services (SNAPS). This partnership further solidified NYK’s presence in the market and allowed for the addition of two 12,000 dwt ships owned by ENEOS Ocean to the SNAPS Pool. The collaboration with industry leaders showcases NYK’s dedication to growth and innovation in the shipping sector.