The NYK group acquired full ownership of Toho Shipping at the end of December.
NYK said that the name of the combined company will be announced shortly.
The Japanese group expects to save 1 billion yen ($7.7 million) a year thanks to the consolidation.
“Operating about 120 handy-size bulkers and annually earning 55 billion yen ($420 Million), the new company will become one of the world’s biggest handy-size bulker operators,” NYK said.
NYK currently operates over 100 handy-size bulkers, carrying such cargoes as steel, ore, copper concentrates, salt, grain, fertilizer, log and lumber. Toho Shipping mainly carries log and lumber with its handy-size bulkers.
Handy-size bulkers are bulk carriers with a deadweight ot 20,000 to 40,000 tons.
Brokerage Compliance Symposium
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
F3 Awards Dinner
The night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
F3: Future of Freight Festival
Industry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now