NYK to become 100% owner of Yusen

Japanese ocean carrier NYK is to acquire the 41% of Yusen Logistics it doesn’t already own. The transaction, reported by Air Cargo News, is expected to complete next March. NYK says it forms part of a wider strategy of expanding beyond its traditional shipping business. According to the report, the carrier envisages creating two main pillars of business – air and ocean freight forwarding and contract logistics – to meet customer demands for a “total logistics solutions”.