New NYK president demands ‘rational approach’ to fleet development

Tokyo: The new president of Japanese shipping line, Nippon Yusen Kaisha, has vowed to be more prudent when it comes to vessel ordering.

Tadaaki Naito, who assumed the role of president today, told employees of the 130-year-old Tokyo-headquartered firm that NYK had been hit hard by the financial crisis and had over ordered ships during the boom years of the past decade fuelled by China’s rocketing growth.

“I believe that it is important to calmly and prudently verify in our investment decision-making process that we are fully in control of business profitability, or in other words, that we are not excessively dependent on factors outside our control. It is also important that we take a rational approach to necessary risk-taking after carefully considering this balance,” Naito said.

The NYK president also committed to continue the company’s diversification through a wide range of marine, land, and air services beyond the boundaries of traditional shipping.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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