Bringing TSK name under NYK banner
Japanese ocean carrier NYK Line said Thursday it will transfer the liner business of intra-Asia specialist subsidiary TSK Lines to the NYK name.
The two companies signed a letter of intent with an aim to complete the transfer within six months.
'TSK has been operating an intra-Asia liner trade for many years as a result of the great support of its customers and vendors, and is well positioned to ride out the rapid changes in the economic business environment,' NYK said in a statement. 'As the intra-Asia trade is incorporated into NYK liner services and all trades begin to operate in unison, the NYK Group will be able to further pursue efficient global liner operations and ensure that the NYK Group remains competitive in the current market environment by offering premium service levels to new and existing customers.'
NYK told American Shipper the change goes hand in hand with formation last month of a South Asia division based in Singapore.
'NYK established NYK Group South Asia Pte Ltd. in Singapore to form a new liner service organization in June 2010 and has started to delegate the operation of the Asia service to NYK Group South Asia,' a spokesperson said. 'By incorporating TSK’s Asia container business into NYK as soon as possible, we would like to achieve more efficient management of our container business sooner and bring about a greater synergy among other sections including logistics and harbor.”
The line said services provided by TSK will be operated by NYK and that, 'for the moment, there will be no impact on day-to-day service arrangements and levels, but we will be making adjustments in due course, and those will be announced accordingly.' ' Eric Johnson
Bringing TSK name under NYK banner
