J Lauritzen A/S and NYK Reefers Limited have today entered into a Memorandum of Understanding, recording their intention that both companies will create a new joint venture on 50:50 basis.
NYK Reefers' commercial operations (apart from technical ship ownership and ship management) will become part of the jointly owned company.
All ships, that are owned or time-chartered by J Lauritzen, NYK Reefers and independent ship owners, will be operated by the joint venture.
The parties will now enter into final contract negotiations, subject to regulatory clearances. It is anticipated that negotiations will be finalised in the very near future.
The joint venture will consolidate strategic cooperation agreed upon by the two companies in January 2004, when they agreed on a tonnage sharing arrangement and on NYK Reefers' subsequent acquisition of a 50 per cent share of LauritzenCool Logistics AB.
The new deal makes the operation one of the leading players in the global market for reefer transportation.
Hiroshi Yamafuji, ceo of NYK Reefers Limited, will be chairman of the new company and Mats Jansson, president of LaurizenCool AB, will be president of the new company.
No comments yet