NYK launches finished vehicle logistics company in Vietnam

The Japanese ocean carrier has agreed to an 80:20 joint venture with Vietnam Ocean Shipping Agency Corp., a shipping agent and subsidiary of state-run Vietnam National Shipping Lines, to establish NYK Auto Logistics Vietnam, the company said.    NYK is partnering with Vietnam Ocean Shipping Agency Corp. (VOSA), a shipping agent and subsidiary of state-run Vietnam National Shipping Lines (VINALINES), to launch a joint finished vehicle logistics company in Vietnam, the company said in a statement.
   The Japanese ocean carrier will have an 80 percent stake in the new company, NYK Auto Logistics Vietnam (NALV), while VOSA will own the remaining 20 percent.
   Financial terms of the deal were not disclosed.
   NALV will provide inland logistics for automobiles, such as the storage, pre-delivery inspection, and delivery of cars and trucks imported to Vietnam.
   NYK currently owns a stake in more than 40 companies around the world that provide finished car inland logistics, often combining inland logistics with ocean transport by roll-on/roll-off (ro-ro) vessels, and plans to offer a similar comprehensive service throughout Vietnam, the company said.