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NYK invests in Vietnamese tug boat company

NYK Line has acquired a 15% stake in Thoresen Vinama Tug (TVT) and entered the tugboat business at Phu My and Cai Mep ports near Ho Chi Minh City, Vietnam’s largest ports in terms of cargo throughput.

According to a statement, the Japanese carrier said TVT has two tugboats providing services at the two ports, the largest in Vietnam and critical gateways for imports and exports.

The investment decision comes after NYK identified potential for “future growth” in a country which has enjoyed a substantial economic boom in recent years and secured itself as a hub for regional trade, NYK said in its statement.

NYK said it is also consistent with its ‘Staying Ahead 2022 with Digitalisation and Green’ initiative, a policy designed to explore emerging markets and other investment opportunities.

Cai Mep International Terminal, CMIT, operated by APM Terminals, earn a place on a service run by the 2M Alliance, the shipping alliance comprising AP Moeler-Maersk and MSC and will receive 12,000 teu vessels.

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