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.
