NYK buys into tugboat venture in Vietnam –

Japanese owner NYK Line has acquired 15% shares of Thoresen Vinama Tug (TVT) and entered the tugboat business at Phu My and Cai Mep ports in Vietnam.

TVT has two tugboats providing tugboat services at Phu My and Cai Mep ports near Ho Chi Minh, the largest ports in the nation in terms of cargo throughput.

“NYK made this investment decision after considering the tugboat business in Vietnam, a country that has achieved remarkable economic growth in recent years, and recognizing that the tugboat sector is primed for future growth,” NYK said in a release.

NYK said it seeks to strategically invest in growth industries and emerging markets and strengthen the group’s management resources, according to its medium-term management plan Staying Ahead 2022 with Digitalization and Green.

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