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NYK expands South American presence

Tokyo: Nippon Yusen Kaisha (NYK) has acquired a 60% share of the general shipping agency Grupo Multimar, headed up by Patrick Cambell, headquartered in Buenos Aires, Argentina. The company, which was established in 1995 and currently employs 100 staff, provides general shipping agent services in Argentina, Uruguay, and Paraguay, in addition to customs clearance services and inland truck transport services and warehouses in those countries.

NYK reports that recently it has been expanding its container services for the east coast of South America from Asia, Europe, and the East Coast of North America. Services for Ro-Ro vessels, reefer vessels, and bulk carriers have also been growing. Furthermore, to strengthen regional sales activities in Latin America, NYK in April shifted the head office of its Latin America business from Tokyo to Sao Paulo.

With countries such as Argentina, Uruguay, and Paraguay all having "dramatically recovered" from the region's economic crisis in 2001, NYK says it expects an increase in cargo movement in the region from various industry sectors, such as automobiles (CKDs), wine, food, grain, and natural resources. The acquisition of a majority stake in Multimar should therefore greatly help it improve customer service in these fast-growing markets.  [29/08/07]

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