AsiaFinance and InsuranceTankers

NYK buys into tanker operator Uyeno Transtech

Japan’s Nippon Yusen Kaisha (NYK) has acquired a 10% ownership interest in domestic tanker operator Uyeno Transtech as part of a business alliance and a combined effort to support the country’s energy transition and the development of new types of vessels.

The deal will see NYK and the Uyeno group look into building a value chain for next-generation fuels such as hydrogen and ammonia in Japan and autonomously operated as well as zero-emission fuel vessels.

“We believe that this investment in the company will be an opportunity to explore areas where synergies can be expected from a long-term perspective. In the future, while the supply chain in the next-generation energy fields such as ammonia and hydrogen will be developed, we will work together to create new value, such as providing services that link the ocean shipping field and the domestic shipping field,” said Akira Kono, senior managing and executive officer of NYK.

Both companies have been working on alternative fuel projects and the development of autonomous ships. NYK is involved in a number of initiatives looking into hydrogen and ammonia while opting for LNG as a bridge solution. Uyeno Transtech partnered to set up an ammonia bunker supply chain in Japan and Singapore. As part of an ambitious plan to make 50% of Japan’s local fleet crewless by 2040, NYK has been carrying out autonomous trials with one of its car carriers and will also trial an autonomous boxship, while Uyeno Transtech recently invested in Finnish smart navigation firm Groke Technologies.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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