• ITVI.USA
    13,795.070
    81.410
    0.6%
  • OTRI.USA
    26.560
    -0.120
    -0.4%
  • OTVI.USA
    13,740.380
    64.000
    0.5%
  • TLT.USA
    2.720
    -0.060
    -2.2%
  • TSTOPVRPM.ATLPHL
    2.670
    0.130
    5.1%
  • TSTOPVRPM.CHIATL
    2.930
    0.280
    10.6%
  • TSTOPVRPM.DALLAX
    1.320
    -0.020
    -1.5%
  • TSTOPVRPM.LAXDAL
    3.040
    0.050
    1.7%
  • TSTOPVRPM.PHLCHI
    1.740
    0.050
    3%
  • TSTOPVRPM.LAXSEA
    3.210
    0.000
    0%
  • WAIT.USA
    108.000
    5.000
    4.9%
  • ITVI.USA
    13,795.070
    81.410
    0.6%
  • OTRI.USA
    26.560
    -0.120
    -0.4%
  • OTVI.USA
    13,740.380
    64.000
    0.5%
  • TLT.USA
    2.720
    -0.060
    -2.2%
  • TSTOPVRPM.ATLPHL
    2.670
    0.130
    5.1%
  • TSTOPVRPM.CHIATL
    2.930
    0.280
    10.6%
  • TSTOPVRPM.DALLAX
    1.320
    -0.020
    -1.5%
  • TSTOPVRPM.LAXDAL
    3.040
    0.050
    1.7%
  • TSTOPVRPM.PHLCHI
    1.740
    0.050
    3%
  • TSTOPVRPM.LAXSEA
    3.210
    0.000
    0%
  • WAIT.USA
    108.000
    5.000
    4.9%
American Shipper

NYK to invest $13.8 billion in ships, become “logistics integrator”

NYK to invest $13.8 billion in ships, become “logistics integrator”

NYK to invest $13.8 billion in ships, become “logistics integrator”

   NYK said Wednesday it will invest 1.38 trillion yen ($13.8 billion) in new vessels to expand its fleet from 660 ships to 880 vessels by March 2011 and outlined a strategy of becoming “a logistics integrator.”

   “To accommodate the expected continuous increase in the marine transport volume on a global scale, NYK group will proactively expand the scale of its fleet, centering on the bulk/energy transport business,” the Japanese group said. NYK announced its fleet expansion over the next five years while unveiling a new medium-term management plan. The Japanese group also said it will continuously focus on the maritime transport business as its main line of business.

   “On another front, the group will strive to secure long-term stable contracts and promote cost reduction efforts to correspond with a possible future declining trend of the market and also to stabilize the income level,” NYK said.

   NYK said it would target consolidated group revenue of 1.8 trillion yen ($18 billion) for its 2007-2008 fiscal year, with a further aim of more than 2 trillion yen ($20 billion) in revenue for 2010-2011.

   For the 2007-2008 fiscal year, NYK has also set targets of 160 billion yen ($1.6 billion) in operating income and 95 billion yen ($950 million) in net income.

   Introducing new terminology to the international logistics field, NYK said it wants to evolve towards “a logistics integrator,” which it defined as “one that offers integrated logistics services through the use of the world’s leading hardware — covering our ships at sea, trucks and rail on land and planes in the sky — and software — via our electronic international transport network.”

   Logistics systems have become increasingly complicated and diverse, particularly in the automotive, electronics and retail industries, the Japanese group noted.

   NYK employs 33,000 and operates 660 ships in the container, car transport, liquefied natural gas, tanker, dry cargo, specialized cargo and cruise industry worldwide.

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