NYK closes on acquisition of minority stake in subsea construction firm

The Japanese ocean carrier has acquired a 25 percent share of EMAS Chiyoda Subsea, a construction firm specializing in offshore and subsea oil and gas facilities, from Singapore’s Ezra Holdings and Japan’s Chiyoda Corporation.    Nippon Yusen Kaisha (NYK) has closed on the previously announced purchase of a minority stake in subsea construction firm EMAS Chiyoda Subsea Ltd. (ECS), according to a statement from the company.
   The Japanese ocean carrier acquired a 25 percent share of ECS from Singapore’s Ezra Holdings and Japan’s Chiyoda Corp.
   As a result, the shareholding structure of ECS will see Ezra control 40 percent of the company, Chiyoda 35 percent, and NYK the other 25 percent.
   Established March 31, 2016 and led by President Lee Chye Tek Lionel, ECS has a fleet of nine vessels and specializes in the engineering, procurement, construction and installation (EPCI) of offshore and subsea oil and gas facilities.
   “Based on its medium-term management plan emphasizing differentiation through the use of creative solutions, NYK has been expanding its business in offshore oil and gas exploration/development, such as seismic, drilling, production, and shuttle transportation services,” the company said. “By participating in the subsea EPCI segment, NYK will steadily accumulate expertise and further extend its service range in the offshore oil and gas value chain.”