AsiaDry Cargo

NYK takes control of Mitsubishi Ore Transport

Japan’s Nippon Yusen Kaisha (NYK) is buying out its partners in a local shipping line, Mitsubishi Ore Transport.

NYK will obtain all shares from partners Mitsubishi Corp, Tokio Marine & Nichido Fire Insurance, and Mitsubishi Heavy Industries to make the 17-ship fleet a wholly-owned subsidiary.

Mitsubishi Ore Transport’s fleet is made up of bulkers, car carriers and wood chip carriers.

No price has been revealed for the buyout.

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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