NYK first Japanese shipping company to invest in subsea venture
JAPANESE shipping giant NYK has reached an agreement with Ezra Holdings Limited (Ezra) and Chiyoda Corporation (Chiyoda) to acquire a 25 per cent share of EMAS Chiyoda Subsea Limited (ECS).
After NYK's participation, the shareholding structure of ECS will change to Ezra 40 per cent, Chiyoda 35 per cent, and NYK 25 per cent.
ECS is a global player in the engineering, procurement, construction, and installation (EPCI) of subsea facilities - essential components in offshore oil and gas field development.
Based on its "More than Shipping 2018" medium-term management plan emphasising differentiation through the use of creative solutions, NYK has been expanding its business in offshore oil and gas.
Subsea EPCI work requires advanced engineering capabilities, utilising sophisticated subsea construction vessels, so NYK is confident that the expertise it has accumulated in the offshore business field, as well as the company's long-standing competence in oil and gas shipping, will make a positive contribution to the joint-venture company.
EMAS Chiyoda Subsea Limited of, Birmingham, England, has 1,200 employee and nine vessels while Ezra Holdings Limited of Singapore has 5,866 employees.
JAPANESE shipping giant NYK has reached an agreement with Ezra Holdings Limited (Ezra) and Chiyoda Corporation (Chiyoda) to acquire a 25 per cent share of EMAS Chiyoda Subsea Limited (ECS).
After NYK's participation, the shareholding structure of ECS will change to Ezra 40 per cent, Chiyoda 35 per cent, and NYK 25 per cent.
ECS is a global player in the engineering, procurement, construction, and installation (EPCI) of subsea facilities - essential components in offshore oil and gas field development.
Based on its "More than Shipping 2018" medium-term management plan emphasising differentiation through the use of creative solutions, NYK has been expanding its business in offshore oil and gas.
Subsea EPCI work requires advanced engineering capabilities, utilising sophisticated subsea construction vessels, so NYK is confident that the expertise it has accumulated in the offshore business field, as well as the company's long-standing competence in oil and gas shipping, will make a positive contribution to the joint-venture company.
EMAS Chiyoda Subsea Limited of, Birmingham, England, has 1,200 employee and nine vessels while Ezra Holdings Limited of Singapore has 5,866 employees.