NYK's logistics company for finished cars gets formal go-ahead from the government of Vietnam

NYK Auto Logistics (Vietnam) (NALV), a finished-car logistics company jointly owned by NYK and Vietnam Ocean Shipping Agency Corporation (VOSA),* received official approval on June 16 from the government of Vietnam to form a joint venture, and operations are scheduled to begin soon.

NYK currently has stakes in finished car inland logistics companies in 18 countries around the world, and Vietnam will be the 19th. The companies combine inland logistics with sea transport by RORO vessels to offer a total logistics service. NALV will offer a similar comprehensive, high-quality service in a proactive manner throughout Vietnam.

The NYK Group will utilize its accumulated expertise of high-quality transportation services around the world to secure stable profits.

--- Outline of New Joint Venture

Name: NYK Auto Logistics (Vietnam) Ltd.
Address: Room 604, Saigon Riverside Office Center 2A-4A
Ton Duc Thang Str., Dist.1 Ho Chi Minh City, Vietnam
President: Yoichiro Morisawa
Business: Inland logistics such as storage, delivery, and PDI** for imported cars
Date of establishment: June 16, 2017

* Vietnam Ocean Shipping Agency Corporation (VOSA)
A shipping agent that is a group company of Vietnam National Shipping Lines (VINALINES), a government-managed shipping company in Vietnam.

** PDI (pre-delivery inspection)
Services such as final inspections, repairs, and parts application for finished vehicles before delivery to car dealers.

-- Related press release
“NYK Establishes Logistics Company for Finished Cars in Vietnam,” December 5, 2016,
http://www.nyk.com/english/release/4208/004550.html