NYK has signed a joint-venture agreement with Vietnam Ocean Shipping Agency Corporation (VOSA) to establish NYK Auto Logistics (Vietnam) (NALV), a logistics company for finished cars.

NALV will be owned by NYK (80 percent) and VOSA (20 percent) and will offer services for inland logistics such as the storage, delivery, and pre-delivery inspectionof imported cars to Vietnam, where sales are strong and increased demand is expected.

VOSA is a shipping agent that is part of Vietnam National Shipping Lines (VINALINES), a government-managed shipping company in Vietnam.

NYK currently has a stake in over 40 companies all over the world providing finished car inland logistics, often combining inland logistics with sea transport by RORO vessels to offer a total logistics service. NYK plans to offer a similar comprehensive service throughout Vietnam.

Based on the company’s “More Than Shipping 2018” medium-term management plan, the NYK Group will utilize its accumulated expertise of high-quality transportation services around the world to secure stable profits.

K Line, in a joint venture with Gemadept Corporation which handles Total Logistics Services in Vietnam, also has recently started an auto logistics service in Vietnam. The Ho Chi Minh City-based enterprise, which commenced at the end of October, 2016, secured land area totaling 215,000 square feet within an industrial park, and launched a dedicated facility called VPC (Vehicle Processing Center).

The facility is near Saigon Premier Container Terminal, where K Line-operated Pure Car Carriers calls at periodic intervals.