NYK acquires stake in Vietnam tug operator

TUG & SALVAGE WEEK
An NYK-owned tug (Photo: NYK)

Nippon Yusen Kabushiki Kaisha (NYK) has acquired 15 per cent of the total issued shares of Thoresen Vinama Tug (TVT), a Vietnamese company that provides tug services in the waters around Ho Chi Minh City.

NYK said that it had made this investment decision after it recognised the Vietnamese towage business as an emerging market with potential for future growth.

Established in 2019, TVT has a fleet of two tugs that serve Phu My and Cai Mep, which have been regarded as Vietnam’s largest ports in terms of import/export cargo and inbound/outbound vessels.

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