NYK creates China auto logistics unit
Japanese ocean carrier NYK said Wednesday it has established a wholly owned subsidiary, NYK Automotive Logistics (China), in Tianjin to strengthen the company's finished-car logistics business in China.
NYK started its finished-car logistics business in China in 2003 and has since developed diverse finished-car logistics services, including land transport throughout the country, car-carrier terminal operations at the four major ports of Dalian, Tianjin, Shanghai and Guangzhou, and pre-delivery inspections.
China has seen a rapid expansion of its automobile industry in recent years, NYK said.
'In 2010, sales of new cars in China exceeded 18 million units. Within several years, sales are forecasted to exceed 20 million units,' the company said. 'As imports, exports and the need for inland transportation increase, the need for car logistics is expected to further expand.'