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NYK agreed to sell all shares in Mitsubishi Ore Transport Co., Ltd. (MOT) by Mitsubishi Corp. (MC), Tokyo Marine & Nichido Fire Insurance Co., Ltd. (Tokyo Marine & Nichido) and Mitsubishi Heavy Industries, Ltd. (MHI), making MOT its wholly owned subsidiary.
MOT is a joint venture of NYK, which owns a 40.28% stake, MC, Tokio Marine & Nichido and MHI, which mainly engages in ship management and shipping operations with 17 vessels consisting of bulk carriers, pure car and truck transporters and timber transporters consist. chip carrier. In addition, MOT has high-quality ship management know-how and extensive knowledge of the shipping business. Making MOT a wholly owned subsidiary will strengthen the group-wide ship management system to address issues such as the launch of next-generation fuel ships for decarbonization. In addition, NYK will seek synergies in its dry bulk business and encourage flexible, value-added business development.
Source: News Network
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