NYK on Friday said it will merge its subsidiary companies NYK-Hinode Line Ltd. and NYK Global Bulk Corp.
Hinode has been in business for more than a century and transports a variety of cargo, such as plant and heavy equipment, while NGB is one of the world’s largest specialists in handy-size bulk carriers.
“The companies have decided to merge to improve efficiencies and service quality and to make use of the NYK Group’s synergy to grow beyond the bounds of the existing business models for the two companies,” the Japanese carrier said in a statement.
The date of the impending merger will be determined in March, and the integration of businesses is expected to occur from October 2013, NYK added.
Hinode currently operates 48 vessels, while NGB has a fleet of 117 ships.