NYK and Uyeno Group form business alliance on future energy supply in Japan

The companies have agreed that it would be beneficial to foster cooperation that spans deep sea shipping and domestic coastal shipping. In the future, they will consider building a value chain for next-generation fuels such as hydrogen and ammonia in Japan and developing advanced vessels such as autonomous and zero-emission vessels.

Akira Kono, senior managing executive officer and chief executive of the Energy Division at NYK Line said: “At this time, NYK has decided to invest in Uyeno Transtech, which handles the domestic tanker business in the Uyeno Group, a group that has a history of more than 150 years. I believe that this investment in Uyeno Transtech, which is also active in advanced initiatives, will be an opportunity to explore areas where synergies can be expected from a long-term perspective. In the future, while the supply chain in next-generation energy fields such as ammonia and hydrogen are being developed, we will work together to create new value, such as providing services that link oceangoing shipping with domestic coastal shipping.”

Gen Uyeno, president and chief operating officer of Uyeno Group Holdings, said: “I am confident that our alliance will greatly contribute to the realisation of accident-free advanced vessels. Furthermore, while energy transformation progresses, NYK and the Uyeno Group will seek to create new value in the new energy field by working with each other in oceangoing shipping and domestic coastal shipping to create a one-stop service for customers.”

Last year, NYK announced its involvement in a demonstration project for the commercialisation of vessels equipped with a domestically produced ammonia-fuelled engine as part of the Green Innovation Fund project. And in cooperation with Elomatic, a Finnish maritime consulting and engineering firm, NYK launched the development of a concept design for an ammonia-fuel ready LNG-fuelled vessel.