June 14 - NYK has reached an agreement with Ezra Holdings and Chiyoda Corporation to acquire a 25 percent stake in EMAS Chiyoda Subsea (ECS).
The deal will see NYK take on a 25 percent shareholding in the company, while Ezra will maintain 40 percent and Chiyoda will hold 35 percent.
ECS provides engineering, procurement, construction, and installation (EPCI) services for subsea facilities and components in offshore oil and gas field development.
The move is part of NYK's plans to differentiate its business offering. The Japanese shipping company is looking to expand into offshore oil and gas exploration and development, currently offering seismic, drilling, production, and shuttle transportation services.
Entering the subsea EPCI business will enable NYK to further extend its service range in the offshore oil and gas value chain, said the company.
HLPFI wonders if - in light of the current challenges of the shipping industry - this kind of business diversification will also become more prevalent in the heavy lift and multipurpose breakbulk shipping sector.