Japanese ocean carrier Kawasaki Kisen Kaisha (“K” Line) will merge two of its ship management subsidiaries, Taiyo Nippon Kaisha and Escobal Japan, in July, the company said in a statement.
According to "K" Line, the two companies will be merged in order to reorganize and consolidate the group’s management system in an effort to become more environmentally-friendly.
The merged companies are tentatively scheduled to be renamed “K” Line RORO and Bulk Ship Management Co., Ltd. by 2018, but will remain Taiyo Nippon Kisen Co., Ltd. until that time.
As part of the company's restructuring project, “K” Line said it will hold three specialized ship management companies after the merger:
- “K” Line Ship Management Company Ltd., dedicated to containerships, tankers and gas carriers;
- “K” Line LNG Shipping, dedicated to LNG carriers; and
- Taiyo Nippon Kisen Co., Ltd., dedicated to car carriers and dry bulk carriers.