On 17 February NYK and ENEOS Ocean Corporation selected the name of a new subsidiary that will take over ENEOS Ocean’s non-crude-oil shipping business.
As stated, NYK and ENEOS Ocean selected “NYK Energy Ocean Corporation” (NEO) as the name of the new company. NYK will acquire 80% of the shares of the new company and make it a subsidiary.
By the end of 2024, the transaction approval procedures were completed by the Japan Fair Trade Commission and other relevant authorities in Japan and overseas. In addition, the transaction is expected to be completed on 1 April, when NEO will officially commence operations and Koichi Chikaraishi is scheduled to be appointed as president.
To remind, the two companies had reached an agreement and announced their plans back in July 2024.
