NYK CLOSES TAKEOVER OF CERES TERMINALS

NYK CLOSES TAKEOVER OF CERES TERMINALS    The Japanese shipping group NYK has concluded all legal and regulatory formalities related to its takeover of Ceres Terminals.
   The acquisition of Ceres will increase NYK’s global terminal volumes to more than 5.5 million TEUs this year. The Japanese group says that the combined volume will place it among the top ten global terminal operators.
   “The purchase of Ceres Terminals forms part of the carrier’s ongoing drive to join the upper tier of global terminal operators.” a spokesman for NYK said.
   NYK wants to see its port business evolve from being a cost center serving only the vessels of NYK Line and its alliance partners, to being a terminal operator attracting significant third-party users.
   Christos Kritikos, Ceres Terminals’ founder and president, together with his management team, will continue to work for the terminal operating company.
   Ceres presently owns and operates    11 terminals in North America, 7 of which are used by NYK and its Grand Alliance partners. In Europe, Ceres operates a new container terminal in Amsterdam, The Netherlands.
   In North America, the Ceres Terminals will be part of NYK Holdings (North America), which is led by chairman Kinichi Hirayama.    NYK also owns and operates Yusen Terminals with facilities in Los Angeles and Oakland California.