NYK Group Plans To Merge Three Subsidiaries To Form NYK Bulkship Partners

NYK Group has announced the planned merger of three of its group companies, Asahi Shipping Co, Ltd, Hachiuma Steamship Co, Ltd, and Mitsubishi Ore Transport Co, Ltd.

The three firms will come together to form a new company tentatively named NYK Bulkship Partners Co, Ltd, in January 2026.

The merger is still subject to approval at the general shareholder meetings of each company. Once finalised, the new firm will be headquartered in Tokyo, with business bases in both Tokyo and Kobe.

Leadership details, including the appointment of the new president, are yet to be announced.

The newly formed company will oversee a total of 91 vessels, out of which 22 will be owned by the company. The managed fleet will include a mix of dry bulk carriers, car carriers, woodchip carriers, and multipurpose vessels (MPPs).

The vessel count also includes ships managed by the subsidiaries of the three companies.

NYK Group stated that the merger aims to bring together the shared strengths of the three firms to improve overall competitiveness.

The group expects to boost efficiency and enhance its capabilities in ship ownership, management, and operations by consolidating their operations.

Background of the Merging Companies

Asahi Shipping Co, Ltd: The company founded on August 24, 1946, is headquartered in Minato-ku, Tokyo. It has built its business around shipping, ship leasing, and ship management with a paid-in capital of JPY 495 million.

The company is currently led by President and Representative Director Satoshi Nemoto.

Hachiuma Steamship Co., Ltd: This Kobe-based company established on January 7, 1925, is one of the oldest in the group. It operates with a paid-in capital of JPY 500 million and is headed by President and Representative Director Koji Shinozaki.

Its services also include shipping, leasing, and management of vessels.

Mitsubishi Ore Transport Co, Ltd: The youngest of the three, Mitsubishi Ore Transport was set up on January 26, 1959 and is based in Chiyoda-ku, Tokyo. It holds a paid-in capital of JPY 1,500 million.

The company, led by President and Representative Director Koichi Uragami, focuses on shipping services, including ore transport, leasing, and ship management.

Reference: NYK

Source: Maritime Shipping News