Home Top News NYK make Mitsubishi Ore transport its wholly owned Subsidiary

NYK make Mitsubishi Ore transport its wholly owned Subsidiary

NYK agreed to obtain all the shares of Mitsubishi Ore Transport  from Mitsubishi, Tokio Marine & Nichido Fire Insurance , and Mitsubishi Heavy Industries, , making MOT its wholly-owned subsidiary.

MOT is a joint company of NYK, which owns a 40.28% stake, MC, Tokio Marine & Nichido, and MHI, mainly operating vessel management and ship-owning businesses with 17 ships consisting of bulkers, pure car and truck carriers, and wood-chip carriers. Moreover, MOT has high-quality vessel management know-how and rich knowledge of the ship-owning business. Making MOT its wholly-owned subsidiary will strengthen the group-wide ship management system to address issues, such as introducing next-generation fuel vessels for decarbonization. Furthermore, NYK will pursue synergy in its dry bulk business and promote flexible, value-added business development.

The NYK Group is promoting growth strategies with ESG at the core under its medium-term management plan, “Sail Green, Drive Transformations 2026 — A Passion for Planetary Wellbeing,” released on March 10. By promoting decarbonization in the bulk shipping business, we will secure an environmental advantage while fulfilling our responsibility as a transport infrastructure company. This agreement aligns with the strategies, making the Group’s business even more solid.

Overview of Mitsubishi Ore Transport Co., Ltd.

Head Office : New-Kokusai building 5th fl. 3-4-1, Marunouchi Chiyoda-ku, Tokyo
Activities : Marine transportation/ chartering vessels and ship management
President : Kazuo Ogasawara
Shareholders : NYK, Mitsubishi Corp., Mitsubishi Heavy Industries, Ltd., Tokio Marine & Nichido Fire Insurance Co., Ltd.
Website : https://www.mot-tky.com/eng

Previous articleEquinor awarded two rig contracts and a collaboration agreement with Transocean
Next articleTrust in tomorrow the evolution of underwriting