Japanese shipowner ready for major offshore acquisitions

Japan's largest shipping group, Nippon Yusen (NYK), which mainly operates in container and dry bulk, will now look into acquisitions in the offshore sector. The group is prepared to spend hundreds of millions of dollars on investments, reports Bloomberg.
BY KATRINE GRØNVALD RAUN

The price drop in the commodity market has made it cheaper to buy assets, and Japan's largest shipping group is looking to take advantage of this development, writes Bloomberg. Nippon Yusen KK (NYK) is currently investigating the purchase of a company which works with pipelines in the oil and gas sector. And this is just one option out of many. According to the head of NYK's energy division, Hitoshi Nagasawa,the group has "several billion yen," corresponding to hundreds of millions of dollars, earmarked for acquisitions, reports the news agency.

Already a subscriber?Log in here

Read the whole article

Get access for 7 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

With your free trial you get:

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
  • Must be at least 8 characters, including three of: Uppercase, lowercase, numbers, symbols
    Must contain at least 2 characters
    Must contain at least 2 characters

    Get full access for you and your coworkers

    Start a free company trial today

    Share article

    Sign up for our newsletter

    Stay ahead of development by receiving our newsletter on the latest sector knowledge.

    Newsletter terms

    Front page now

    Further reading