NYK and TSK sign letter of intent on intra-Asia liner business

Nippon Yusen Kabushiki Kaisha (NYK) and Tokyo Senpaku Kaisha, Ltd. (TSK), a wholly owned subsidiary of NYK, have agreed to transfer to NYK the intra-Asia liner business operated by TSK. NYK announced that signed a letter of intent with TSK on July 29.

NYK and TSK will further discuss and evaluate this transfer of business and are aiming to conclude the transaction within six months after the signing of the letter of intent.

A TSK spokesperson said, ?SK has been operating an intra-Asia liner trade for many years as a result of the great support of its customers and vendors, and is well positioned to ride out the rapid changes in the economic business environment.

As the intra-Asia trade is incorporated into NYK liner services and all trades begin to operate in unison, the NYK Group will be able to further pursue efficient global liner operations and ensure that the NYK Group remains competitive in the current market environment by offering premium service levels to new and existing customers.

NYK will be offering the services that have been continuously provided by TSK, so for the moment, there will be no impact on day-to-day service arrangements and levels, but the company will be making adjustments that will be announced accordingly.

A spokesperson for the companies said, as a global comprehensive logistics company, we will aim to achieve further expansion and development in our container business by operating all trades together through this transfer and providing various services to meet the diverse needs of our customers.<Korea Shipping Gazette>