15/04/2025, 11:32 New giant bulker player born as NYK merges three separate subsidiaries | TradeWinds
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Managed by Hachiuma Steamship, the 207,451-dwt Hisui Horizon (built 2015) will become part of the NYK Bulkship Partners fleet in January. Photo: Hachiuma Steamship
New giant bulker player born as NYK merges three separate subsidiaries
NYK Bulkship Partners to assume fleets and operations of Asahi Shipping, Hachiuma Steamship and Mitsubishi Ore Transport
14 April 2025 9:04 GMT UPDATED 14 April 2025 22:06 GMT
By Jonathan Boonzaier in Singapore
Japanese shipping giant NYK is merging three dry bulk subsidiaries to create a single large market player.
Asahi Shipping, Hachiuma Steamship Co and Mitsubishi Ore Transport will combine forces to become NYK Bulkship Partners, NYK announced on Monday.
The merger will give the new company control over a fleet of about 91 owned and managed vessels, mainly bulkers and woodchip carriers, along with
a small number of car carriers and other vessel types. Twenty-two of these vessels will be directly owned.
The companies are set to merge in January as “part of a strategic business integration”.
NYK said: “As NYK Group companies, each of the three entities scheduled for integration has been developing its business by leveraging its unique
NYK completes
strengths within its specialised business domain.
mammoth $886m share
buy-back drive after a “Through this merger, we aim to further enhance our competitiveness in ship management, as well as in ship ownership and operations, by
year of deals consolidating similar business functions and strengthening common ship-management capabilities.”
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15/04/2025, 11:32 New giant bulker player born as NYK merges three separate subsidiaries | TradeWinds
NYK Bulkship Partners will be headquartered in Tokyo, while a business office will be located in Kobe.
Details on who will assume the role of president have yet to be announced.
The merger effectively retires three well-known, historic names in Japanese shipping.
The oldest is Hachiuma Steamship, which was founded in 1925, although its roots stretch back to 1861. The company became part of NYK in 1964. Its current president is Koji
Shinozaki.
Asahi Shipping has been in business since 1946 and is currently headed by Satoshi Nemoto. The company became a wholly owned NYK subsidiary on 31 March.
Established in 1959, Mitsubishi Ore Transport is the youngest of the three companies. Koichi Uragami is its current president.
NYK said additional details would be provided as soon as they are finalised. (Copyright)
NYK Bulkship Partners
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