NYK Selling 50% of Cruise Business

Japanese shipping giant NYK will sell a 50% stake in its cruise subsidiary, NYK Cruises, to Anchor Ship Partners (ASP), a Japanese investment firm.

The deal features an agreement to jointly operate the cruise business.

NYK expects to see a gain of around JPY 9 billion (USD 81.9 million) in non-consolidated accounting and JPY 8 billion (USD 72.8 million) in consolidated accounting in Q4 of the fiscal year ending March 31, 2019.

“. . . it is best to develop the cruise business with ASP as a partner in order to further improve ASUKA CRUISE brand and sustain high-quality growth by investment to the cruise business in the future,” NYK said.

OOCL Does Not Plan to Order New Ships For Now

Hong Kong-based container shipping line Orient Overseas Container Line Limited (OOCL) has no plans to order any new vessels at the moment.
Stephen Ng, Director of Trades at OOCL, said this when asked about the rumored 23,000 TEU sextet order.
Several media outlets informed earlier this week that OOCL was readying to order six LNG-ready 23,000 TEU containerships, following the completion of the sale of the Long Beach Container Terminal.
“Our company is constantly reviewing capacity requirement. There is no plan to order new ship at this moment,” Stephen Ng said.
The terminal divestment is being pursued by COSCO Shipping Holdings’ as part of its USD 6.3 billion takeover of Orient Overseas International Limited (OOIL), a concession required by the U.S. regulators in order to clear the merger.

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CMA CGM of France will combine its Containerships and MacAndrews brands under the single Containerships brand.

This move will create an Intra-European leading brand, according to CMA CGM. It will complement maritime and inland solutions with large regional footprints. The integration of the agencies’ local networks would allow for the creation of a custom intra-regional service.

“This new, innovative single brand will be able to unlock major synergies and concentrate its resources on commercial growth and on the development of high quality services for its customers,” the company stated.