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NYK Auto Logistics (Vietnam) (NALV), a finished-car logistics company jointly owned by NYK and Vietnam Ocean Shipping Agency Corporation (VOSA),* received official approval on June 16 from the government of Vietnam to form a joint venture, and operations are scheduled to begin soon.

NYK currently has stakes in finished car inland logistics companies in 18 countries around the world, and Vietnam will be the 19th. The companies combine inland logistics with sea transport by RORO vessels to offer a total logistics service. NALV will offer a similar comprehensive, high-quality service in a proactive manner throughout Vietnam.

The NYK Group will utilize its accumulated expertise of high-quality transportation services around the world to secure stable profits.

 

Outline of New Joint Venture

Name: NYK Auto Logistics (Vietnam) Ltd.

Address:   Room 604, Saigon Riverside Office Center 2A-4A

                Ton Duc Thang Str., Dist.1 Ho Chi Minh City, Vietnam

President: Yoichiro Morisawa

Business: Inland logistics such as storage, delivery, and PDI** for imported cars

Date of establishment: June 16, 2017

  

* Vietnam Ocean Shipping Agency Corporation (VOSA)

A shipping agent that is a group company of Vietnam National Shipping Lines (VINALINES), a government-managed shipping company in Vietnam.

 

** PDI (pre-delivery inspection)

Services such as final inspections, repairs, and parts application for finished vehicles before delivery to car dealers.

NYK and Kyushu Electric Power Co. Inc. have agreed to partner in various fields such as liquefied natural gas (LNG) transport.

The agreement will allow Kyushu Electric Power to consider using ships in the NYK fleet for short-term demands of LNG transport, enabling NYK to improve its profitability through efficient vessel allocation and Kyushu Electric Power to improve its flexibility in LNG transport.

NYK and Kyushu Electric Power will also consider the feasibility of cooperation in complementary businesses (e.g., LNG bunkering) involving LNG supply and marine business. This agreement is based on the trusting relationship that both companies have built in the energy transport field over the years.

In a separate decision, NYK has assigned its LNG vessel, Grace Barleria (gross tonnage: 100,450 tons), to a charter contract for Kyushu Electric Power from this month. For up to about 11 years, this vessel will transport LNG from various projects such as the Wheatstone LNG project in Australia.

NYK will continue to provide flexible and optimal LNG transport options that meet customers’ diversifying needs and strengthen the base of businesses that can generate stable profits.

Idemitsu Kosan Co. Ltd (head office: Tokyo; representative director and CEO: Takashi Tsukioka), NYK Trading Corporation (head office: Tokyo; president and representative director: Keiji Tsuchiya), and NYK Line (head office: Tokyo; president: Tadaaki Naito) jointly exhibited at the Japan-China Green Expo 2017,* a major trade fair in Beijing, China, showcasing Japanese environmental technologies, products, and services from June 13 to 16. The three companies introduced “ULTY-V plus,” a control optimization system for coal-fired boilers and environmental initiatives.

“ULTY-V plus” contains the attributes of its predecessor, ULTY-V, in addition to newly incorporated AI and IoT features. The system was jointly developed by the three companies and will hit the market this October. “ULTY-V plus” enables the boiler to be precisely controlled, thus resulting in greater optimization of performance. Furthermore, the system can be coordinated to remotely supervise operation data, and various technical services can be provided.

In China, about 70 percent of primary energy is from coal, and environmental concerns are increasing yearly. About 1,000 representatives of Chinese companies interested in environmental technology and energy conservation visited the “ULTY-V plus” booth, and videos and pamphlets were used to emphasize environmental initiatives. Technical staff made presentations to guests who use boilers in power plants and factories, and questions were actively fielded.

 The three companies will continue to contribute to the prevention of global warming and to the realization of a sustainable society by reducing carbon dioxide (CO2) emissions through the promotion of “ULTY-V plus” both inside and outside the country.

  

* Japan-China Green Expo 2017

International exhibition jointly organized by Keidanren (Japan Business Federation), Japan External Trade Organization (JETRO), Nitchu Green Expo Management, China Council for the Promotion of International Trade, and the China Association of Environmental Protection Industry. About 40 companies exhibited this year.