AsiaPorts and Logistics

NYK buys into tugboat venture in Vietnam

Japanese owner NYK Line has acquired 15% shares of Thoresen Vinama Tug (TVT) and entered the tugboat business at Phu My and Cai Mep ports in Vietnam.

TVT has two tugboats providing tugboat services at Phu My and Cai Mep ports near Ho Chi Minh, the largest ports in the nation in terms of cargo throughput.

“NYK made this investment decision after considering the tugboat business in Vietnam, a country that has achieved remarkable economic growth in recent years, and recognizing that the tugboat sector is primed for future growth,” NYK said in a release.

NYK said it seeks to strategically invest in growth industries and emerging markets and strengthen the group’s management resources, according to its medium-term management plan Staying Ahead 2022 with Digitalization and Green.

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.
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