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.