NYK takes stake in tanker firm Uyeno Transtech

Japanese shipping firm Nippon Yusen Kabushiki Kaisha (NYK) has agreed to acquire a 10% stake in Uyeno Transtech, a domestic tanker operating company that is part of the Uyeno Group.

Hitoshi Nagasawa, president and CEO of NYK;
Gen Uyeno, president and CEO of Uyeno Group Holdings. Photo: NYK

As informed, the partners want to jointly address the next-generation energy supply in Japan.

In response to climate change, various efforts are underway to realize a carbon-neutral society. NYK and the Uyeno Group are promoting low-carbonization and decarbonization while supporting the existing energy supply in terms of transportation during the energy transition period.

Both companies recognize that ensuring transportation quality and safety is the most important issue for both companies as the basis for achieving a carbon-neutral society. For that, the duo is also working on the development of advanced vessels such as autonomous ships, with the aim of reducing the labor burden on seafarers, complementing the operations of seafarers through automation, and maintaining and improving service quality.

Moreover, the companies are said to have a common awareness of social issues and have agreed that it would be beneficial to foster cooperation that spans oceangoing shipping and domestic coastal shipping.

In the future, NYK and the Uyeno Group will consider collaboration in building a value chain for next-generation energies such as hydrogen and ammonia in Japan and developing advanced vessels such as autonomous ships and zero-emission fuel vessels.

“At this time, NYK has decided to invest in Uyeno Transtech, which handles the domestic tanker business in the Uyeno Group… I believe that this investment in Uyeno Transtech, which is also active in advanced initiatives, will be an opportunity to explore areas where synergies can be expected from a long-term perspective,” Akira Kono, senior managing executive officer and chief executive of the Energy Division at NYK Line, commented.

“In the future, while the supply chain in next-generation energy fields such as ammonia and hydrogen are being developed, we will work together to create new value, such as providing services that link oceangoing shipping with domestic coastal shipping.”

“I am pleased to announce that the Uyeno Group has entered into a capital and business alliance with NYK…The Uyeno Group aims to learn from the advanced technological capabilities, experience, and wisdom that NYK has cultivated over many years, especially in advancing efforts to address various issues in the domestic shipping business. I am confident that our alliance will greatly contribute to the realization of accident-free advanced vessels,” Gen Uyeno, president and chief operating officer of Uyeno Group Holdings, said.

“Furthermore, while energy transformation progresses, NYK and the Uyeno Group will seek to create new value in the new energy field by working with each other in oceangoing shipping and domestic coastal shipping to create a one-stop service for customers.”