K Line offloads stake in Daito Corporation

Japan’s Kawasaki Kisen Kaisha, (K Line) has decided to sell the assets of its subsidiary Daito Corporation.

K Line said the deal is for efficient utilisation of business resources as well as to strengthen the company’s financial position.

The company expects to secure an estimated gain of JPY14.1bn ($134.2m) from the sale. The buyer is a Japanese corporation whose name is not disclosed.

Daito Corporation operates a series of businesses including towage, warehousing, container terminal, marine safety and ship agency.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
Back to top button