On July 8, NYK and ENEOS Ocean Corporation, a consolidated subsidiary of ENEOS Holdings, Inc. that handles the shipping business of the ENEOS Group, agreed to NYK’s acquisition of 80% of the shares of a new company to be established by ENEOS Ocean Corporation, according to the company's release.
The new company will take over ENEOS Ocean's shipping business through an absorption-type company split that will include the company’s LPG carriers, chemical tankers, product tankers, and dry bulk carriers. This demerger will not include ENEOS Ocean’s crude oil tanker business.
The new company will operate 49 vessels, including 18 LPG carriers, 19 chemical and product tankers, and 12 dry bulk carriers. It will include 16 companies, including a ship-management company in Singapore.
The transaction is expected to be completed on April 1, 2025, subject to obtaining clearance under applicable competition laws and other conditions.