On April 1, NYK acquired 80% of the shares of NYK Energy Ocean Corporation (NEO), a newly established company that took over the shipping business of ENEOS Ocean, excluding its crude-oil tanker business, according to the company's release.
The acquisition was valued at approximately 76 billion yen. NEO now operates 47 vessels, including 18 LPG carriers, 18 chemical and product tankers, and 11 cargo ships, all transferred from ENEOS Ocean.
Together with the 16 LPG carriers currently operated by NYK, this acquisition strengthens the NYK Group’s position as one of the world’s largest operators of LPG carriers.
The NYK Group is focusing on expanding its LNG/LPG carrier business as part of its growth strategy, aiming to provide stable energy transportation.
This acquisition includes the transfer of more than 100 employees and a fleet of 47 vessels from ENEOS Ocean, enhancing the group’s capabilities and fostering synergies with the ENEOS Group, a major player in the energy sector.
Koichi Chikaraishi, President of NEO, commented: "NYK Energy Ocean Corporation has been established. ENEOS Ocean provides high-quality marine transport services to companies in Japan and abroad. NYK Energy Ocean, which has taken over this business, will continue to accurately grasp customer needs and focus on providing reliable and efficient transport with safety as the first priority. Additionally, as part of the NYK Group, we will leverage scale advantages to improve quality control and cost competitiveness."
NYK is a global leader in the transportation industry, providing services in sectors such as shipping, logistics, and air cargo. Headquartered in Japan, the company operates a large fleet of vessels that handle diverse cargo, including energy resources, industrial products, and consumer goods.
NYK Energy Ocean Corporation is a new entity that emerged after the transfer of ENEOS Ocean’s shipping operations. NEO focuses on ocean transportation of various cargo, including LPG, chemical products, coal, and timber. The company operates a fleet of 47 vessels, offering reliable and safe transportation services to customers both in Japan and overseas.