A revised expansion plan will see 50-60 ships less in NYK Line’s stable than previously planned. Those ships represent a 25 per cent cut in the shipping company’s original plan to grow its fleet to 1,000 vessels by 2010.
The company’s current medium-term management plan will also undergo a full review, according to the Journal of Commerce. The current plan was released in March, and governs NYK’s fleet size and business performance targets over the next three years.
It pegged a fleet increase of 223 ships, about 29 per cent. The revised plan will lower the total fleet size in 2010 to about 950 ships, mainly by retiring older vessels ahead of schedule.
Procurement of 218 new ships worth ¥1.37 trillion (US$14.81bn) will go ahead unchanged.
The three-year plan review will begin in January and be announced in March, according to a company spokesman.
