NYK takes 80% share of ENEOS Ocean fleet

NYK Line is buying an 80% stake in a new company that will control 49 ships in Eneos Ocean’s fleet, excluding the crude tanker business. The NYK subsidiary will be based in Singapore.

In all, 18 LPG carriers, 19 product and chemical carriers and 12 bulk carriers will depart the Eneos fleet, leaving the company with 12 crude tankers (nine VLCCs and three Aframaxes). 

Commenting on the move, NYK said, “In the energy transport business, we aim to strengthen our efforts, mainly in the LNG and LPG ship business, which we are positioning as a growth business, and to fulfill our responsibility for stable energy transport as an infrastructure company. This transaction is in line with that strategy and will further strengthen the NYK Group’s energy business.”

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

The transaction is expected to close by April 2025.

Last year, Yokohama-based Eneos contributed two ships to the SNAPS (Stolt NYK Asia Pacific Service) chemical tanker pool which operates to/from and within Australasia.