NYK takes entire gas, product tanker and bulker fleet from Eneos Ocean

Nippon Yusen Kaisha (NYK) has sealed a deal to take over the majority of Eneos Ocean Corporation’s fleet.

The Japanese shipping line is buying an 80% stake in a new company that will control nearly 50 ships, excluding Eneos Ocean’s crude tanker business.

The deal will see the newly established NYK subsidiary operate 18 LPG carriers, 19 chemical and product tankers, and 12 bulkers, and have 16 companies under its umbrella, including an operating company and a shipmanagement company in Singapore.

NYK noted the fleet includes vessels owned by overseas subsidiaries and differs from the numbers on the Eneos Ocean website, which lists 15 LPG units, the same number of chemical/product tankers and 11 bulkers.

Eneos Group currently owns about 81% of the business, also once known as JX Ocean, with other shareholders holding the rest, including Sompo Japan Insurance and Japan Marine United Corporation.

The transaction is expected to close by April next year, leaving Eneos Ocean with nine VLCCs and three aframaxes, according to its website. Last year, the Yokohama-based company contributed two ships to Stolt NYK Asia Pacific Services chemical tankers pool.