Nippon Yusen expanding car terminal business in China, India
06 February 2011
Nikkei. Nippon Yusen KK is expanding its car terminal business in emerging market economies, with China and India rapidly growing as automobile exporters.
The shipping company engages in car terminal operations at nine ports worldwide. Those terminals handled 4.25 million vehicles in 2010, and Nippon Yusen aims to expand the figure to 5 million this year by providing terminal services at more locations.
Nippon Yusen recently purchased a 12.5% stake in a Chinese firm that operates a car terminal in Guangzhou. The deal is estimated to have cost the firm nearly 2 billion yen. The terminal can accommodate large car carriers, and has a space for 13,500 vehicles.
Nippon Yusen has also begun a feasibility study for a car terminal being constructed at the southeastern Indian port of Chennai.
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