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Heavy Lift Across the World

Yusen board agrees to NYK takeover

November 2 - Shipping line Nippon Yusen Kaisha (NYK) is set to take over its third-party logistics affiliate, Yusen Logistics.

Already the controlling shareholder of Yusen (59.6 percent), Tokyo, Japan-based NYK, led by its president Tadaaki Naito, will acquire the remaining 40.4 percent of shares for a reported JPY1,500 (USD13.17) per share, or a total JPY25.6 billion (USD22.47 million).

Yusen said its board of directors recommended the move that will see the firm become a wholly-owned subsidiary of NYK, when it takes full ownership in March 2018.

Commenting on its plans for Yusen and the rationale behind the acquisition, NYK said it had: "set the logistics business as its core business, and, in order to strengthen its business foundation, has been engaged in expanding the logistical services centred around growing industries and emerging markets and strengthening its marketing capabilities utilising the group's management foundation."

The company said it was "shifting to a light-asset model for the business that operates under highly volatile conditions," and that, "as logistics services have been prominently commodified, the company believes that improvement of the brand power, as well as the creation of added value and adoption of a differentiation strategy, are required for future business development."

Heavy Lift | News

Bilbao gains Norwegian connection thumbnail image

Bilbao gains Norwegian connection

October 22 - Finnlines, part of the Grimaldi Group, has added a port call in Norway to its Biscay service between Bilbao, Spain and St. Petersburg, Russia. 
Views: 123
Scot Explorer launched in Hoogezand thumbnail image

Scot Explorer launched in Hoogezand

October 22 - Scotline Marine Holdings’ 4,800 dwt vessel Scot Explorer has been christened and launched at the Royal Bodewes Shipyard in Hoogezand, the Netherlands.
Views: 106
Wangfoong rescue on track thumbnail image

Wangfoong rescue on track

October 22 - Wangfoong Transportation has been involved in a complex salvage operation in Hong Kong, where it helped to recover three derailed trains.
Views: 125
ZPMC delivers for Hutchison Port Sohar thumbnail image

ZPMC delivers for Hutchison Port Sohar

October 22 - ZPMC’s heavy lift vessel Zhen Hua 19 has delivered two remote-controlled quay cranes and six rubber-tyred gantry cranes to Hutchison Port Sohar’s terminal in Oman.
Views: 129

Heavy Lift Across The World

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