NYK acquires Eneos Ocean fleet

The new company will become a subsidiary of NYK Group. 

The new company is expected to operate a fleet of 49 vessels, including 18 LPG carriers, 19 chemical/product tankers, and 12 cargo ships, along with subsidiaries including operational and ship management companies based in Singapore.

The transaction is expected to be completed on 1 April 2025, subject to approval and authorisation from the Fair-Trade Commission and other domestic and overseas authorities.

“In the energy transport business, we aim to strengthen our efforts, mainly in the LNG/LPG ship business, which we are positioning as a growth business, and to fulfil our responsibility for stable energy transport as an infrastructure company. This transaction is in line with that strategy and will further strengthen the NYK Group's energy business,” writes NYK in the announcement.

NYK which is Japan’s largest shipping group has 824 vessels (as of the end of FY24 in March). While large portions of the fleet are in bulk cargo, the group currently has 91 LNG carriers and a total of 61 tankers including crude and product. To this, it will add 18 LPG ships, 19 chemical and product tankers, and 12 cargo ships.

Eneos will retain its crude oil tanker operations separately from NYK. The company’s fleet list shows a dozen crude oil tankers (nine VLCCs and three Aframaxes) all built in the last decade. NYK and Eneos, along with Stolt Tankers, had been working together since launching a chemical tanker pool in 2023.