Star Reefers, NYK Enter Agreement

Norwegian shipping firm Star Reefers has agreed with Japan's NYK to create a new joint pool and marketing company owned 50 percent each. The new company will be called NYK Star Reefers Ltd. and will control a combined fleet of 74 refrigerated vessels currently owned by the two firms, Star Reefers, formerly called Swan Reefer Inc., said in a statement. "This merger is a further step towards greater consolidation and regrouping of the owners in the industry -- which has experienced a number of difficult years," the statement said. "The new company will run a pool which will also welcome the participation of other owners in the industry," it said. NYK Star Reefers will be based in London, it said. - (Reuters)