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NYK takes control of 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.
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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.

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