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
