Nippon Yusen Kabushiki Kaisha’s (NYK Line) ambitious fleet expansion scheme “More Than Shipping 2013,” revealed in April 2011, is being scaled down with the growing economic challenges faced by the global marine trade industry, the company said.
Namely, due to the remarkable appreciation of the yen, which resulted in price increase of Japanese products on international markets followed by a drop in order for new vessels, the NYK Line decided to revise its plans but keep its four key strategies in force under the concept of “combining traditional shipping with value-added strategies.”
As a result the envisaged enlargement of the fleet to 920+vessels by 2013 and subsequently 960+ in 2016 have been reduced to 855 vessels by 2013 with a growth to 865 by 2016.
The greatest need for expansion has been recognized in the LNG sector, out of which reason the company plans to augment its LNG carrier fleet of 30 vessels to 65 by 2013 and additional 15 by 2016.
The company decided to keep the number of its car carrier vessels at 120 and 130 in 2013 and 2016 respectively, while it reduced the number of tankers for 25 vessels from the envisaged 105 intended for 2016.