NYK Invests in Tugboat Biz at Largest Port in Vietnam

Maritime Activity Reports, Inc.

July 16, 2020

Image courtesy NYK.

Image courtesy NYK.

NYK Line (Vietnam) Co. Ltd. acquired 15% of total issued shares of Thoresen Vinama Tug Co. Ltd. (TVT hereunder) and entered the tugboat business at Phu My and Cai Mep ports in Vietnam.

TVT has two tugboats providing tugboat services at Phu My and Cai Mep ports, located in the suburbs of Ho Chi Minh and the largest ports in the nation in terms of import/export cargo and inbound/outbound vessels.

NYK made this investment decision after considering the tugboat business in Vietnam, a country that has achieved remarkable economic growth in recent years, and recognizing that the tugboat sector is primed for future growth.

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