News

NYK, Oyak to Build Car Terminal in Turkey
Japanese shipping company Nippon Yusen Kaisha (NYK) has joined forces with Turkish conglomerate Oyak to build and operate a finished-car logistics terminal in Yarimca port near Istanbul.
The company signed an agreement with Oyak, the Turkish Armed Forces’ pension fund, in Istanbul on April 5.
As informed, the new joint venture will be owned and operated together with Oyak Denizcilik ve Liman İşletmeleri A.Ş. (Oyak Port), a port-management subsidiary of Oyak.
“The new joint venture will be positioned to respond to demand in an area where finished-car imports and exports are expected to rise,” NYK said in a statement.
The new terminal, which will have a yard area of about 180,000 square meters, will be the first large terminal that is located in the suburbs of Istanbul and dedicated to finished cars, according to NYK.
Operations are scheduled to commence in mid-2019.
The investment is worth USD 110 million, Reuters reported.
Source: World Maritime News
- Fire-Ravaged Maersk Honam Reaches Gulf of Oman
- EU is One More Step Closer to Trade Agreements with Japan and Singapore
- Hapag-Lloyd Makes First-Ever Call at Prince Rupert Port in Canada
- KfW to Back Responsible Ship Recycling
- ReCAAP Warns of Abu Sayyaf Kidnapping Threat in Malaysia
- Panama Canal to Raise Maximum Draft for Neopanamax Locks
- SeaIntel: Shortage of Feeders by End of 2020
- COSCO Shipping Dismisses Another Dormant Business
- In Depth- Container Efficiency Through Cooperation
- Haiphong Container Terminal Opens for Business
- COSCO Gets Nod for OOCL Takeover in the Nick of Time
- CMA CGM FAK rates changes from North Europe and Mediterranean to the Pacific Islands
- Yang Ming Seals Charter for 10 Boxship Newbuilds
- Digital Logistics: From Trend to Norm
- China’s COSCO Shipping wins U.S. security clearance for OOIL deal.
- Hapag-Lloyd Dismisses CMA CGM Merger Reports
- CMA CGM Extends Charter for Diana Containerships’ Unit
- Green light for CMA CGM $380m investment in Ceva Logistics
- Forwarders braced for impact on trade in China retaliation to latest Trump tariffs
- Drewry, Ascent of the Charter Market Is Over
- Yilport Makes a Bid for Italian Box Terminal Concession
- Trade war sparks more capacity cuts on transpacific container trades
- Maersk Line, MSC Team Up with ZIM
- 'Overcapacity not trade wars to blame for falling demand on Asia-US east coast'
- COSCO Shipping Lines Falls Victim to Cyber Attack
- COSCO Takes Majority Stake in OOCL